Torstar logs into fu­ture of Ver­ti­calS­cope

Cape Breton Post - - BUSINESS -

TORONTO — Torstar Corp. is tap­ping into the world of niche online fo­rums by pick­ing up a stake in Ver­ti­calS­cope Hold­ings Inc., a Cana­dian com­pany that serves the ap­petites of car fa­nat­ics and of­fers tips to pet lovers. The pub­lisher of the Toronto Star, which ditched its Har­le­quin ro­mance novel busi­ness last year for $455 mil­lion, is spend­ing $200 mil­lion for a 56 per cent stake in the dig­i­tal media com­pany. “We’ve been as­sess­ing op­por­tu­ni­ties to em­ploy cap­i­tal that re­sulted from the Har­le­quin sale for over a year now,’’ chief ex­ec­u­tive David Hol­land told an­a­lysts on Wed­nes­day as Torstar re­ported a quar­terly loss. “It’s an im­por­tant step for­ward in the trans­for­ma­tion of Torstar, po­si­tion­ing the com­pany for growth in its more dig­i­tally- ori­ented fu­ture.’’ The Cana­dian Press

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