Torstar Corp. reported a loss in its fourth quarter as revenue continued to decline sharply year-over-year — especially in terms of sales of print advertising space to national accounts. This comes despite the fact that the news organization has seen a steady increase in paid digital subscribers.
The publisher of the Toronto Star, other newspapers and a number of digital or online properties, said it lost $3.1-million loss attributable to shareholders for the three months ended Dec. 31 or four cents per share.
Senior executives of the company told analysts Wednesday that national print advertising plunged at both its “daily brands” and “community brands” segments, while print advertising from local accounts fell at a slower rate.
