Torstar Corporation

Overview

Torstar Corporation is a Canadian media company that publishes the Toronto Star and operates the Metroland Media Group, a network of daily and community newspapers in the Hamilton, Waterloo Region, Niagara Region, and Peterborough areas of Ontario. Torstar also holds a 33.33 percent interest in The Canadian Press news agency.

Ownership

From 1958 to 2020, Torstar's Class A voting shares were held by the families of the original Atkinson Foundation trustees. In May 2020, Torstar's board agreed to sell the company to NordStar Capital LP, an investment firm wholly owned by the Bitove and Rivett families, for $60 million; the sale closed in July 2020 and Torstar was taken private. In September 2022, NordStar co-founder Paul Rivett filed to split the firm's assets due to a falling-out with co-founder Jordan Bitove; an arbitrator's February 2023 ruling gave Bitove control of the Toronto Star and Metroland Media Group, while Rivett received iPolitics and Queen's Park Briefing.

History

Torstar was established in 1958 to take over operations of the Toronto Star from the Atkinson Foundation after Ontario law barred charitable organizations from owning for-profit entities. NordStar Capital acquired Torstar in 2020. In 2021, Torstar's digital publishing subsidiary VerticalScope completed an initial public offering on the Toronto Stock Exchange, with NordStar retaining a majority stake.

Leadership

• Jordan Bitove controls the Toronto Star and Metroland Media Group following the 2023 division of NordStar's assets.

Location and contact info

Address
Toronto, Ontario, Canada