Torstar, Golf Town to jointly buy SCOREGolf
Owner of Toronto Star says subscribers, advertisers will benefit from new partnership
Torstar, the company that owns the Toronto Star newspaper, is partnering with specialty golf retailer Golf Town Ltd. to acquire SCOREGolf magazine and its digital media assets.
SCOREGolf, founded in 1980, is the largest circulated golf publication in Canada, according to the press release. SCOREGolf is known for its rankings of the top 100 golf courses and top 59 public golf courses in Canada. It also produces television and video content.
Golf Town is the largest specialty golf retailer in Canada, according to the press release, and is a retail banner under Sporting Life Group, which was acquired by Fairfax Financial Holdings in 2011. Golf Town merged with Sporting Life in 2018 to become Sporting Life Group.
Fred LeCoq, chief marketing officer for Sporting Life Group, said that after the initial COVID-19 dip, golf participation rose in 2020, which he thinks is due to it being a “COVID-friendly sport.” LeCoq sees this trend continuing in 2021, and said the acquisition is an opportunity for Golf Town to leverage Torstar’s reach and SCOREGolf’s content production.
Michael Beckerman, Torstar’s chief client officer, said Golf Town and Torstar have had a great long-time relationship, and the 50:50 joint venture will benefit Torstar’s subscribers and advertisers.
For one, subscribers will have access to SCOREGolf content, said Beckerman. As well, the partnership is working on more products and services to be rolled out before the golf season begins, he said.
Golf participation is booming right now, added Beckerman, and there are a lot of opportunities in the industry. He hopes that Torstar and Golf Town will be able to further spur conversations about issues in the golf world, such as diversity. The partnership “is aimed at supporting and increasing player participation across Canada,” the release says.
“When you look at golf you see booming participation rates. You see opportunities for greater ethnic diversity, you see opportunities for greater female participation and you see opportunities for more juniors to get into golf,” he said.
Beckerman said Torstar will be “elevating our editorial commitment to golf across our properties, including daily and community newspapers, and digital assets, as well as exploring ways to include golf-related forums at VerticalScope and Chinese language Sing Tao.”
The partnership will also allow SCO
REGolf to become part of the Torstar “ecosystem,” said Beckerman, benefiting from the company’s reach.
Torstar chair Paul Rivett said the partnership fits into Torstar’s strategy under its new owners, Jordan Bitove and himself, via holdings company NordStar Capital, which acquired Torstar in 2020.
He said Golf Town initially alerted Torstar to the fact that SCOREGolf was looking to be acquired, and it seemed like the right opportunity.
“We’re all about growing,” Rivett said. LeCoq said the deal “makes plenty of sense for Torstar,” as golfers are a coveted segment in advertising, especially given the recent rise in golf interest during the pandemic. He said Golf Town will be better able to meet the higher demand for golf content, which he sees as the future of marketing.
“I’m really excited about the partnership,” he said.
Beckerman said SCOREGolf publisher Kim Locke shares the partnership’s vision.
In the press release, Locke said the sale “cements the future” of SCOREGolf’s brand.
“Our award-winning writers have covered topics from racism and drug use to affordability and diversity. We have shown our readers how to golf better and helped them to discover the best places in the world to golf,” Locke said.
“We stand on the shoulders of the thousands of people who have contributed to our adventure, from readers and advertisers to writers and designers, from golf pros to golf fanatics who have supported us through good times and bad. Our industry offers some of the best product in the world. The future is bright.”