To alleviate some of its losses

The declines only continued into April, he said.The lone bright spot for the company was an increase in digital traffic and digital subscribers that executives said continued to accelerate into April. Torstar now has 90,000 subscribers with digital access, including 32,000 digital only paid subscribers. These gains, however, were offset by losses https://www.cheap-soccer-jerseys.net in print subscribers and so subscriber revenues were still down 3.7 per cent from 2019.Torstar eliminates 85 positions as coronavirus cuts into ad revenueTough year for Torstar as revenue challenges continueTorstar shuts commuter papers less than two years after ‘major’ expansionDeMarchi said the company expects the negative trends to continue so long as the economic shutdown is in place.believe the advertising revenue impact associated with COVID 19 will persist so long as the current government imposed business and social distancing restrictions remain in place and that trends will begin to improve with the easing of these closures and restrictions, DeMarchi said.To alleviate some of its losses, Torstar sold the building housing the Hamilton Spectator for $25.5 million in the first quarter and eliminated 85 positions in April, a move that saved the company about $7 million on an annualized basis.

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