Torstar cuts 75 jobs, CP gets customer

Normally when a newspaper lays off, people just lose their jobs. In this case, Toronto Star is cutting 75 desk (editorial/layout) jobs, and contracting the service to Pagemasters North America, a unit of the Canadian Press news service. CP, which lost its biggest member, Canwest, a few years ago, has been branching out to other businesses to stay alive, including computerized layout services. At the end of the day, Torstar saves money and CP makes money. CP is an example of an “old” media adapting to current circumstances, as a lot of “old” media like radio do.

Bloomberg, Nov. 24 2009