Torstar to increase ownership in Multimedia Nova

Torstar Corporation agreed on Friday, June 27, to purchase 590,631 Class A voting shares in Toronto’s Multimedia Nova for $236,253. Multimedia Nova is the multicultural publisher┬áof weekly publications Correo Canadiense and Tandem, in addition to the Town Crier chain of newspapers.

This purchase brings Torstar’s ownership in Multimedia Nova Class A shares to 19.9 percent, or a total of 1,030,631.

Including all of the company’s newspapers, which are members of the Canadian Community Newspapers Association, Multimedia Nova has a combined circulation of over 400,000. The company also operates Diversity Media Services, World Television Network, and Multicom Media Services.

Torstar owns Metroland Media Group, the community newspaper publishing company, in addition to Star Media Group which publishes the Toronto Star.