Torstar, parent company of the Toronto Star, has acquired Ontario-based printing and publishing company Performance Printing Ltd. for $22.5 million. Purchased through its Metroland Media Group Ltd. division, the company takes control of a number of small newspapers and flyers in the Eastern Ontario communities of Kingston, Belleville, Brockville, Smiths Falls and Ottawa.
"The acquisition will allow Metroland to extend its community newspaper and flyer distribution services to new communities in Eastern Ontario,” said David Holland, Torstar president and CEO, in a press release.
Torstar also announced it will pay $51.5 million to boost its ownership stake in the Canadian chain of Metro free daily newspapers from 50 percent to 90 percent. Metro International will continue to hold a 10 percent stake in the English-language newspapers, published in eight markets across the country.
