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Company News

Torstar Corp second-quarter revenue drops

Aug 2 (Reuters) - Toronto Star newspaper publisher Torstar Corp posted a drop in quarterly revenue as demand for its print business continued to dwindle.

Revenue fell 9 percent to C$161.8 million ($128.99 million)from C$177.91 million, largely due to a drop in print advertising revenue.

Net loss attributable to the company narrowed to nearly C$7 million, or 10 Canadian cents per share, in the second quarter ended June 30, from C$23.9 million, or 30 Canadian cents per share a year earlier. ($1 = 1.2544 Canadian dollars) (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Supriya Kurane)

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