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Torstar Corp (TSb.TO)

TSb.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Torstar Q2 adjusted loss per share C$0.03
Wednesday, 2 Aug 2017 06:30am EDT 

Aug 2 (Reuters) - Torstar Corp ::Torstar Corporation reports second quarter results.Q2 adjusted loss per share C$0.03.Q2 loss per share C$0.09.Q2 earnings per share view c$0.03 -- Thomson Reuters I/B/E/S.Torstar Corp says currently expect that flyer distribution revenues will experience moderate declines in balance of 2017.Qtrly operating revenue $161.8 million versus $177.9 million.Torstar Corp says subscriber revenues declined moderately in first six months of 2017 and this trend is expected to continue in balance of year.Torstar Corp says expect full year contributions to registered defined benefit pension plans in 2017 to be reduced to $10 million.Torstar Corp says currently expect full year 2018 funding into registered defined benefit pension plans will remain at approximately $10 million.  Full Article

Torstar reports Q1 loss per share C$0.30
Wednesday, 3 May 2017 06:30am EDT 

May 3 (Reuters) - Torstar Corp ::Torstar Corporation reports first quarter results.Q1 adjusted loss per share c$0.22.Q1 loss per share c$0.30.Segmented revenue was $156.7 million in q1 of 2017, down $18.1 million from $174.8 million in q1 of 2016.Total segmented restructuring and other charges were $4.9 million in q1 of 2017.Net savings related to restructuring initiatives undertaken through end of q1 of 2017 are expected to be $13.0 million in balance of 2017.Restructuring charges in q1 included a charge of $22.4 million for severance, facility related to decision to outsource printing of Toronto Star.Expect that any impact of price increases for newsprint will continue to be more than offset by lower consumption in balance of year.Currently expect that flyer distribution revenues will decline modestly in balance of year.Subscriber revenues declined moderately in q1 of 2017 and this trend is expected to continue in balance of year..Cost reduction will remain an important area of focus for us in balance of 2017.Net savings related to restructuring initiatives undertaken through end of q1 of 2017 are expected to be $13.0 million in balance of 2017.  Full Article

Torstar says John Boynton appointed CEO and President
Friday, 3 Mar 2017 08:00am EST 

Torstar Corp : John Boynton named President and Chief Executive Officer of Torstar and publisher of the Toronto Star . Says John Boynton appointed CEO and President .Torstar Corp - Boynton succeeds David Holland.  Full Article

Torstar Corporation posts Q4 adj. earnings C$0.16/shr
Wednesday, 1 Mar 2017 06:30am EST 

Torstar Corp : Torstar Corporation reports fourth quarter results . Q4 earnings per share C$0.01 from continuing operations . Q4 adjusted earnings per share C$0.16 . Q4 earnings per share view C$0.08 -- Thomson Reuters I/B/E/S . Torstar Corp - capital expenditures in 2017 are currently anticipated to be reduced to between $12 million and $13 million. . Torstar Corp- "cost reduction will remain an ongoing important area of focus for us in 2017" . Torstar Corp - expenses related to registered defined benefit pension plans are currently expected to decrease by about $3 million to about $11 million in 2017 . Torstar Corp says net savings related to restructuring initiatives undertaken through end of 2016 are expected to be $17.0 million in 2017 .Torstar Corp - segmented revenue was $208.7 million in Q4 of 2016, down $24.3 million from $233.0 million in Q4 of 2015.  Full Article

Fairfax Financial Holdings buys Torstar shares
Thursday, 25 Aug 2016 05:09pm EDT 

Fairfax Financial Holdings Ltd : Fairfax announces acquisition of shares of Torstar . Has acquired, through units, a total of 3.5 million class B non-voting shares of Torstar Corporation . Through units bought a total of 3.5 million class B non-voting shares of Torstar .Now holds approximately 27.4% of total class B shares outstanding of Torstar.  Full Article

Torstar Corp Q2 adjusted loss per share C$0.13
Wednesday, 27 Jul 2016 07:21am EDT 

Torstar Corp : Board of directors announced that it intends to reduce dividend to 10 cents per share annually effective Q3 of 2016 . Qtrly operating revenue $177.9 million versus $206.3 million . Restructuring charges through end of Q2 reflect reduction of about 425 positions, expected to result in annualized net savings of $22.8 million . Subscriber revenues declined moderately in first six months of 2016 and trend is expected to continue in balance of year . Torstar corporation reports second quarter results . Q2 adjusted loss per share C$0.13 . Q2 loss per share C$0.30 from continuing operations . Intends to reduce dividend to 10 cents per share annually effective Q3 of 2016 . Q2 earnings per share view C$-0.20, revenue view C$192.0 million -- Thomson Reuters I/B/E/S . Torstar corp qtrly operating revenue $177.9 million versus $206.3 million . Net savings related to restructuring initiatives undertaken through end of Q2 of 2016 are expected to be $16.5 million in balance of 2016 . Currently expect that flyer distribution revenues will experience moderate declines in balance of 2016 . Excluding impact of closure of olive media, metroland media group and star media group digital revenue expected to grow in balance of 2016.  Full Article

Torstar president, CEO David Holland to retire
Wednesday, 6 Jul 2016 07:45am EDT 

Torstar Corp : Torstar announces David Holland retiring as president and CEO .Says initiated a search to fill joint position of president and CEO of Torstar.  Full Article

Torstar Corporation announces agreement with Transcontinental to print the Toronto Star
Friday, 15 Jan 2016 08:00am EST 

Torstar Corporation:Announces agreement with Transcontinental to print the Toronto star.Says agreement is for a term of five years with the possibility to extend, and services are expected to commence in July 2016.Decision will result in the closure of Toronto star's existing printing plant in Vaughan, affecting about 220 full-time,65 part-time staff.Expects combined severance provision,other transition costs to be recorded in 2016, to be in range of about $22 million.Says Toronto star has commenced discussions with unions representing the affected employees to develop a transition plan.Annualized operating savings expected to be in range of about $10 million once the printing has been fully transitioned to transcontinental.Says Torstar will commence exploration of the sale of the existing printing facility and land in Vaughan.  Full Article

UPDATE 1-Torstar Corp posts surprise loss as print business drags

Aug 2 Toronto Star newspaper publisher Torstar Corp posted a surprise loss in the second quarter as demand for its print business continued to dwindle.