Poor print ad sales hurt Toronto Star publisher’s revenue

(Reuters) – Canada’s Torstar Corp reported a 7 percent fall in revenue at its media business, which publishes the country’s largest daily newspaper, the Toronto Star.

Revenue in the media business fell to C$237.3 million ($218.45 million) as the company continued to struggle with low print advertising sales.

Torstar, almost one-quarter owned by Prem Watsa’s Fairfax Financial Holdings Ltd, said print advertising revenue was likely to remain under pressure for the rest of the year.

The publisher recently slashed costs in an attempt to counter shrinking ad sales…