Torstar (TSE:TS.B) which trades on the Toronto Stock Exchange, is in a state of confusion. They recently sold off a big stake in CTV and enjoyed a very large liquidity event. Their fundamental problem is their legacy asset, a large circulation newspaper called Toronto Star. They have no vision for the future or how to use the internet.
Recently they launched a special Sunday insert which carries the New York Times Book reviews. This is supposed to be a major catalyst. iPad, Kindle, other readers and tablets and these guys come up with their A game and cut down some more trees.
Disclosure: George Gutowski writes from a caveat emptor perspective. I hold no positions in stocks mentioned in this post.
- Torstar’s stake sale brings a ‘strong financial foundation’ (theglobeandmail.com)
- Torstar walks away from BCE-CTV smiling (theglobeandmail.com)
- Digital products affecting all Torstar businesses (thestar.com)
- Rogers to partner with Torstar Digital to manage web content (financialpost.com)
- BCE to take full control of CTV (seattletimes.nwsource.com)