Torstar Announces Newspaper Division Restructuring

* Reuters is not responsible for the content in this press release.

Thu Apr 17, 2008 9:00am EDT 

  TORONTO, ONTARIO, Apr 17 (MARKET WIRE) -- 
 Torstar Corporation (TSX: TS.B) today announces that its newspaper
division has undertaken a restructuring involving a combination of
voluntary and involuntary staff reductions which will result in a net
reduction of approximately 160 positions. Torstar expects that the
restructuring charge, which will be recorded in the first quarter, will
be approximately $21 million. The savings associated with this initiative
are expected to be in the range of $12 million annually.

    ABOUT TORSTAR CORPORATION

    Torstar Corporation is a broadly based media 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, LiveDeal.ca,
Workopolis and Olive Canada Network; Metroland Media Group, publishers of
community and daily newspapers in Ontario; and Harlequin Enterprises, a
leading global publisher of women's fiction.

    Torstar's news releases are available on the Internet at www.torstar.com.

Contacts:
Torstar Corporation
D. Holland
Executive Vice-President and Chief Financial Officer
(416) 869-4031
Website: www.torstar.com

Copyright 2008, Market Wire, All rights reserved.

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