Torstar Corp., publisher of the Toronto Star, reported an adjusted loss per share of 22 cents in the first quarter of 2017, an improvement from a 40 cent adjusted loss in the year-earlier period. Adjusted EBITDA was $2 million — up $2.7 million from the prior year, the company reported Wednesday. Torstar said earnings in its digital ventures segment came in at $5.1 million, reflecting 21 per cent growth in adjusted EBITDA at VerticalScope, on an 18 per cent revenue increase. Torstar has a majority stake in VerticalScope, which owns and operates more than 600 online forums and premium content sites across North America. The digital ventures segment “continued to benefit from very strong year over year growth in adjusted EBITDA at VerticalScope,” Torstar president and chief executive officer John Boynton said in a statement.

Source: thestar May 03, 2017 10:30 UTC