Torstar takes over Smith Falls Printer
Torstar Corp, the leading media entity based in Toronto with operations in newspapers, book publishing, and digital business, has cracked a $22.5 million deal. The deal includes a full control over the EMC chain of community newspapers. For all those who are unaware, these newspapers are circulated almost across 500,000 houses, weekly across Eastern Ontario.
Torstar has acquired the rights to take over the Performance Printing Ltd. of Smith Falls by paying an exorbitant sum of $22.5 million. According to Torstar, the acquisition was made through Metroland Media Group division, an organization that publishes community papers in Toronto. The acquired entity publishes flyers and newsletters in Eastern Ontario, in the communities of Kingston, Belleville, Brockville, Smiths Falls, and Ottawa.
“The acquisition will allow Metroland, publisher of more than 100 newspapers primarily in the Greater Toronto Area, to extend its community newspaper and flyer distribution services to new communities in Eastern Ontario,” said David Holland, president and CEO of Torstar.
Prior to this, Torstar had also acquired Runge Publishing Inc. Smith Fall, which provides commercial printing services for phone books and corporations, as well as renders distribution and creative design services.
Bill McDonald, president of Metro English Canada said: “Metro has carved out a significant space in the national media landscape, and through the enhanced support of Torstar, our majority shareholder, we’re looking forward to even greater growth.”
The acquisition will also support Metroland to extend its growing suite of digital offerings. Cracking the deal has added a feather to the cap of Torstar Corp. It is presumed that there is more from this media house that is yet to astound the world with.