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| Crisis for Canadian newspaper publishers | Crisis for Canadian newspaper publishers |
| (5 months later) | |
| Two of the Canada's largest newspaper publishers, Torstar Corp and Quebecor, say revenues are dropping faster than they can compensate with cost cuts, reports the Globe & Mail. | Two of the Canada's largest newspaper publishers, Torstar Corp and Quebecor, say revenues are dropping faster than they can compensate with cost cuts, reports the Globe & Mail. |
| According to the report, both companies have been hit by rapidly falling print advertising and cannot see it returning soon. Similar statements were made recently by the other two big Canadian publishers, Postmedia Network and the Globe and Mail itself. | According to the report, both companies have been hit by rapidly falling print advertising and cannot see it returning soon. Similar statements were made recently by the other two big Canadian publishers, Postmedia Network and the Globe and Mail itself. |
| In the first quarter of this year, Sun Media - the division of Quebecor that publishes 44 dailies and 200 other titles - recorded a profits fall of 62% to $6m (£3.8m). | In the first quarter of this year, Sun Media - the division of Quebecor that publishes 44 dailies and 200 other titles - recorded a profits fall of 62% to $6m (£3.8m). |
| Torstar – publisher of Canada's largest-selling paper, the Toronto Star plus community newspapers and books – announced a quarterly profit decrease of 76% to $4.2m (£2.7m). Revenue fell 5%. And newsprint advertising at its Star Media Group division fell 16%. | Torstar – publisher of Canada's largest-selling paper, the Toronto Star plus community newspapers and books – announced a quarterly profit decrease of 76% to $4.2m (£2.7m). Revenue fell 5%. And newsprint advertising at its Star Media Group division fell 16%. |
| Source: Globe & Mail | Source: Globe & Mail |
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