NordStar completes acquisition of Torstar

TORONTO, Aug. 5, 2020 /CNW/ – NordStar Capital LP today announced the completion of the acquisition of Torstar Corporation.

Today marks the beginning of a new era for the Torstar group of newspapers, including the Toronto Star, the Hamilton Spectator, Waterloo Region Record, St. Catharines Standard, Niagara Falls Review, Welland Tribune, and Peterborough Examiner.

In Nordstar’s statement they say they look forward to continuing the transformation initiated by John Honderich and John Boynton – more digitally-oriented, more nimble, and more reader-focused – while adhering to fundamental values of fairness, accuracy and the Atkinson principles.

“We are excited to write the next chapter with new energy and commitment,” said Jordan Bitove. “From the outset we’ve believed in the future of world-class journalists and world-class journalism that builds on the Star’s storied history. We have work to do and we are thankful for the confidence that the Atkinson, Campbell, Hindmarsh, Honderich and Thall families have placed in us. We intend to build upon this wonderful legacy.”

“We understand that print media everywhere is going through a challenging time, yet we need trusted news now more than ever,” said Paul Rivett. “Particularly as Canadians confront the immediate threat posed by COVID-19, we have witnessed record interest in fact and expert opinion. For over 100 years, Torstar’s papers have produced award-winning journalism and we expect that level of professionalism to continue as we deliver progressive and investigative news coverage through the media platforms of the future.”

“The Star, more than any other newspaper, has been at the forefront of progressive change that has advanced the cause of ordinary people and their families,” said the Hon. David Peterson. “To say it has shaped the city, province, and country is an understatement. As we collectively confront challenges of this day and age, the Star will maintain its leadership position.”

SOURCE NordStar Capital