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Torstar Announces Acquisition of Community Newspapers and Printing Operation in Eastern Ontario(October 17, 2011)
TORONTO, ONTARIO -- (Marketwire) -- 10/17/11 -- Torstar (TSX:TS.B) today announced that its subsidiary, Metroland Media Group Ltd., has acquired Performance Printing Ltd. of Smiths Falls, Ontario for $22.5 million. Performance Printing is a commercial printer with operations in Smiths Falls, as well as a newspaper publisher and flyer distributor in several Eastern Ontario communities including Kingston, Belleville, Brockville, Smiths Falls and Ottawa.
"The acquisition will allow Metroland, publisher of more than 100 newspapers primarily in the Greater Toronto Area, to extend its community newspaper and flyer distribution services to new communities in Eastern Ontario. The acquisition will also support Metroland's extension of its growing suite of digital offerings," said David Holland, President and Chief Executive Officer of Torstar Corporation.
ABOUT TORSTAR CORPORATION
Torstar Corporation is a broadly based media and book publishing company listed on the Toronto Stock Exchange (TS.B). Its businesses include the Star Media Group led by the Toronto Star, Canada's largest daily newspaper, and digital properties including thestar.com, toronto.com, Workopolis, Olive Media, and eyeReturn Marketing; Metroland Media Group, publishers of community and daily newspapers in Ontario; and Harlequin Enterprises, a leading global publisher of books for women.
Torstar's news releases are available on the Internet at www.torstar.com.
Executive Vice-President and Chief Financial Officer
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