All the news about media these days is coming from the business media, and it’s almost all bad (Quebecor isn’t doing too badly, but its money is coming from cable and cell phones, not media like the Sun.) Anyhoo, Torstar has the latest losses, to the point it halved its dividend. And more cuts to come.
“We are aggressively reducing costs at the Star and Metroland. We’ve already made some good progress, but there’s a good deal more to come in the weeks and months ahead.”
Canoe/CP, Feb. 26 2009