Last C$7.42 CAD
Change Today -0.02 / -0.27%
Volume 74.1K
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As of 4:00 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

torstar corp - cl b (TS/B) Snapshot

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07/23/14 - C$8.47
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03/4/14 - C$4.99
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torstar corp - cl b (TS/B) Details

Torstar Corporation is engaged in the media and book publishing businesses in North America and internationally. The company operates in two segments, Media and Book Publishing. The Media Segment publishes in print and online approximately 115 weekly community newspapers; 3 daily newspapers, including The Hamilton Spectator, the Waterloo Region Record, and the Guelph Mercury; and various other specialty and monthly publications, magazines, telephone directories, consumer shows and flyer distribution operations, various Websites, and digital applications and products. It also publishes the English-language metro newspapers in various Canadian cities; and the Chinese-language Sing Tao daily and its related publications in Toronto, Vancouver, and Calgary. In addition, this segment publishes editions; is involved in printing, outdoor advertising, and radio; and publishes weekly magazines, inserts, free weekly newspapers, Chinese-language telephone directories, and Websites. Further, it operates other digital businesses, which include eyeReturn Marketing Inc. that provides advertising services related to display advertising, video, rich media, and mobile advertising;;;;;;;;;;;;;;; and Olive Media. The Book Publishing segment publishes and distributes books in various genres and formats, including digital. It offers books under various imprints, including Harlequin MIRA, Harlequin HQN, Harlequin Kimani Press, Harlequin TEEN, and Carina Press. This segment sells books through the retail channel, in stores, and online, as well as directly to the consumer through direct mail and its Internet sites. Torstar Corporation was founded in 1892 and is based in Toronto, Canada.

Founded in 1892

torstar corp - cl b (TS/B) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$750.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: C$410.0K
President of Metroland Media Group Ltd
Total Annual Compensation: C$420.0K
Ex-Officio Member of Toronto Star Advisory Co...
Total Annual Compensation: C$420.0K
Compensation as of Fiscal Year 2013.

torstar corp - cl b (TS/B) Key Developments

Torstar Corp Closes Digital Operations of its Metro Brand in Seven Cities

Torstar Corp. is closing the digital operations of its Metro brand in seven cities where it no longer produces free daily newspapers. Metro websites in Hamilton, Windsor, Kitchener and London, Ont., as well as Regina, Saskatoon and Victoria will close down effective immediately. All three of those cities had one reporter on staff, an editor in London and another to oversee both editions in Saskatchewan. It was not immediately clear what happened to the additional Metro reporter and editor that were not included in the most recent layoff announcement. Metro says it will continue to publish news stories online in the seven cities where it still distributes print editions: Halifax, Ottawa, Toronto, Winnipeg, Calgary, Edmonton and Vancouver. In a separate decision, Torstar is also cutting six jobs in Toronto. Torstar has been struggling to find a position in the changing market, initially building a paywall to charge Toronto Star readers for content, and then announcing plans to tear it down after hardly a year of experimentation. The paywall will be pulled back next fall. Instead, Torstar wants to focus on a relationship with Montreal's La Presse newspaper to develop a new tablet product for the Star.

Torstar Corporation Declares Quarterly Dividend, Payable on December 31, 2014; Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Impairment Charges for the Third Quarter; Provides Capital Expenditures Guidance for the Full Year 2014

On November 4, 2014, Torstar Corporation declared a quarterly dividend of 13.125 cents per share on its Class A shares and Class B non-voting shares, payable on December 31, 2014, to shareholders of record at the close of business on December 12, 2014. Torstar advises that, for the purposes of the Income Tax Act, Canada and for any relevant provincial tax legislation, this dividend is designated as an eligible dividend. The company announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, operating revenue was CAD 199,925,000, compared to CAD 215,678,000 for the last year. Operating loss was CAD 79,588,000, compared to CAD 71,157,000 for the last year. Net income from continuing operations was CAD 86,998,000 or CAD 1.08 per basic and diluted share against CAD 80,220,000 or CAD 1.01 per basic and diluted share a year ago. Net income attributable to equity shareholders was CAD 125,343,000 or CAD 1.57 per basic and diluted share against net loss of CAD 70,800,000 or CAD 0.89 per basic and diluted share a year ago. Net cash used in operating activities was CAD 9,636,000 compared to net cash provided by operating activities of CAD 29,384,000 for the same period last year. Addition to property, plant and equipment and intangible assets was CAD 8,020,000, compared to CAD 4,880,000 for the last year. Adjusted earnings per share were CAD 0.06 against CAD 0.08 a year ago. Adjusted earnings per share from continuing operations attributable to equity shareholders were CAD 0.06. Adjusted earnings per share attributable to equity shareholders were CAD 0.06. Adjusted EBITDA was CAD 13,815,000 against CAD 18,733,000 a year ago. For the nine months, operating revenue was CAD 624,700,000, compared to CAD 676,358,000 for the last year. Operating loss was CAD 62,625,000, compared to CAD 58,980,000 for the last year. Net loss from continuing operations was CAD 70,485,000 or CAD 0.88 per basic and diluted share against CAD 73,887,000 or CAD 0.93 per basic and diluted share a year ago. Net income attributable to equity shareholders was CAD 152,129,000 or CAD 1.90 per basic and diluted share against net loss of CAD 48,621,000 or CAD 0.61 per basic and diluted share a year ago. Cash provided by operating activities was CAD 33,621,000, compared to CAD 44,774,000 for the last year. Addition to property, plant and equipment and intangible assets was CAD 15,045,000, compared to CAD 12,416,000 for the last year. For the third quarter, impairment of assets was CAD 82,348,000 compared to CAD 76,458,000 a year ago. Capital expenditures in 2014 are currently anticipated to be approximately CAD 21 million. There are no significant operating expenses anticipated in 2014 and estimates of the potential impact on 2015 operating results are still in development.

Torstar Corporation, Q3 2014 Earnings Call, Nov 05, 2014

Torstar Corporation, Q3 2014 Earnings Call, Nov 05, 2014


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