Torstar Posts $234.5 Million Q4 Loss

From Huffington Post:

The red ink included $213.3 million of non-cash items related to asset impairments at its continuing operations. Those included $130.6 million within the Metroland Media group of smaller newspapers and $70.5 million at the Star Media group, which includes the company’s flagship Toronto Star.

“Metroland Media Group and Star Media Group are expected to continue to face challenges in 2016 as a result of continued shift in spending by advertising,” said the company’s executive vice-president and chief financial officer, Lorenzo DeMarchi, in a conference call with investors.

Print advertising declines were moderate, he said, but it’s difficult to predict if that trend will continue this year considering the continued evolution of advertiser markets and economic volatility. More.

Reality check: It’s over, but they don’t know it. People don’t need them any more.

The big problem is, they will sell out ever more, as PR to big government, to avoid going extinct and set the real, new media up for persecution. You know, “fight hate” and “save the planet,” and so forth.

See also: The Independent to cease print publication

and

Massive Newsroom Cuts Mean We Are The New Citizen Media

  • Exile1981

    Don’t worry the star and crescent is applying for a federal subsidy.

    • I bet they get it too.

    • DMB

      The Red Star has a lot of friends in the Liberal party. Wynne recently announced her support for federal subsidies to Quebec based bombardier. I wouldn’t be the least surprised if the Star gets taken over by the province of Ontario. http://www.torontosun.com/2016/02/23/the-coming-push-to-nationalize-the-media

      • David Murrell

        Lawrence Martin, a far-left columnist with the Globe and Mail, proposed federal government subsidies for newspapers, similar to what they have in Sweden.

    • God’s Honor

      So we will end up paying to keep this leftist rag afloat? Vomit!

      • Exile1981

        I don’t know for sure they are. My comment was more a sarc comment. I just realized by the responses it wasn’t obvious.

        • Alain

          Still you were most likely correct knowing how things work in the Liberals’ world.

  • Nice to know all that advertising I’m seeing out west on TV..(which honestly reeked of desperation) hasn’t helped. Everyone out here knows they are journalisms’ bottom of the pit basement…:-) 🙂 :-).

  • Yusuf_al_Kafir

    It couldn’t happen to a more deserving bunch of sharia-compliant cocksuckers.

    Here’s hoping they ride their sharia pony alllllllllll the way to bankruptcy!

    Kool and the Gang, do your thing, fellas…..

    https://www.youtube.com/watch?v=AeTgx_pj6m8

  • SDMatt

    Suck it Torstar! No Harlequin Romance to lean on anymore.

    • That was a dumb move. Torstar should have sold the newspapers and kept Harlequin. Now everything that’s left is circling the drain.

      • Ed

        Their news is equally make believe…

  • ontario john

    That’s Starophobic!! I’m sure their patrons at the Liberal Party will find them some money. Maybe they can sell Heather Mallick into prostitution.

    • Mal

      Ick.

    • Clausewitz

      Not a big money maker, well at least not with sane people.

  • This is interesting…

    “Mr. Holland conceded that Star Touch has come out of the gate “slower than we’d anticipated.” The app has been downloaded more than 200,000 times but is opened by only 26,000 daily, with the average reader visiting three times per week. Many readers open it more than once in a day – the Star claims 50,000 daily sessions in the app – and the average reader spends 22 minutes using it on any given day.”

    http://www.theglobeandmail.com/report-on-business/torstar-posts-loss-as-print-advertising-slide-continues/article28993727/

    The Star’s demographic skews very old, I doubt may subscribers to the print edition will make the switch to tablets.

  • simus1

    The most consistent and interesting product Red StarC&S has on offer are the weekly supermarket fliers.

  • Ed

    Can’t wait for the headline… “Toronto Star goes bankrupt. Women and minorities hardest hit.”

    • Maggat

      Good one!!!

  • Mal

    ““Metroland Media Group and Star Media Group are expected to continue to face challenges in 2016 as a result of continued shift in spending by advertising,”blah, blah blah”…
    Balls. Their subscription service and circulation has cratered.
    I may not live to see Honderich spit-washing windshields on Yonge St., but the fact that his financial “empire” is perhaps one-twentieth of what it was ten years ago pleases me mightily.

  • john700

    “Massive Newsroom Cuts Mean We Are The New Citizen Media”

    Very nice and dandy, but when was the last time you were in the field, reporting on anything?
    AP and Reuters will rule the day in the future. Instead of wasting their money on idiot Republicans, the stupid Koch brothers should have discretly bought one of these.

  • BillyHW

    Justine will bail them out and women will re-elect him in a landslide because it will be 2019 or something.

    • David Murrell

      Woman hater.