In reporting its second-quarter financial results, Torstar Corp. said it was pleased with the progress of its transformation and push toward digital subscriptions. “I am very pleased with the progress we are making across many fronts in laying the foundation for our transformation plan,” said John Boynton, president and CEO of Torstar. Torstar has recently rolled out a major national expansion of thestar.com and an exclusive content arrangement with the Wall Street Journal. Segmented revenue in the second quarter was $160.7 million, down $20.1 million, or 11 per cent, from the second quarter of 2017. In the second quarter, Torstar sold Workopolis.com and related assets for proceeds estimated at $3.5 million to $4 million, $3.2 million of which has been received to date.

Source: thestar August 01, 2018 10:30 UTC