Canadian publisher Torstar's profit falls as ad revenue declines

Wed Jul 31, 2013 6:44am EDT
 
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July 31 (Reuters) - Torstar Corp, owner of Canada's largest daily newspaper by circulation, reported a fifth straight fall in quarterly profit as print advertising revenue declined.

The publisher of the Toronto Star said net income fell 45 percent to C$18 million ($17.5 million), or 23 Canadian cents per share, in the second quarter from C$32.6 million, or 41 Canadian cents per share, a year earlier.

Operating revenue slipped 7.6 percent to C$354.9 million.