The $60-million purchase, made through Bitove and Rivett’s company NordStar Capital, closed officially Wednesday, capping a roller-coaster six-month journey which began in February when Bitove first approached the Torstar board. That led to a counter-offer from NordStar that was locked in by Torstar’s major shareholders, then challenged by the upstart bidder in court. As part of the ongoing digital transformation of the company, Bitove says the Star will be building on an already-strong relationship with its readers and community. Support for those principles was a vital part of NordStar’s bid, said Torstar chair John Honderich in an interview. Now that Torstar has been sold, Honderich said his immediate plans include some relaxation and some writing.

Source: thestar August 05, 2020 20:09 UTC