Toronto Star owner cutting 600 jobs at regional papers, seeking bankruptcy protection for unit

The Canadian Press

· Posted: Sep 15, 2023 1:14 PM EDT | Last Updated: 2 minutes ago

Nordstar, the institution that owns the Toronto Star and different newspapers, announced Friday that it is seeking bankruptcy extortion for the portion that owns much than 70 section newspapers and axing much than 600 jobs successful the process.

Nordstar says it is putting its Metroland Media Group part into creditor extortion nether the Bankruptcy and Insolvency Act arsenic portion of a restructuring plan.

The Metroland concern owns dozens of assemblage newspapers delivered alongside advertizing flyers. Nordstar says it is getting retired of the flyer concern wholly and converting the newspapers to a digital-only format.

The determination volition mean the nonaccomplishment of 605 jobs oregon astir 60 per cent of its full workforce.

Metroland says the determination is simply a effect of unsustainable fiscal losses stemming from the changing preferences of consumers and advertisers.

Meanwhile, the company's six regular newspapers, including the Hamilton Spectator, Peterborough Examiner, St. Catharines Standard, Niagara Falls Review, Welland Tribune and the Waterloo Region Record, volition proceed some successful people and online.

The Toronto Star is not portion of the restructuring.