Torstar's media business revenue falls as ad sales stay weak

Wed Mar 5, 2014 7:07am EST
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March 5 (Reuters) - Torstar Corp, owner of Canada's largest daily newspaper by circulation, said quarterly revenue from its media business fell nearly 7 percent, mainly due to weak print advertising.

The company - publisher of the Toronto Star, a string of regional newspapers and Harlequin romance novels - said net income attributable to shareholders fell to C$20.6 million ($18.5 million) in the fourth quarter ended Dec. 31 from C$21.1 million, a year earlier.

The company's income was flat on a per-share basis.

Operating revenue from Torstar's media business fell to C$271.4 million from C$290.8 million, a year earlier.