Torstar Profit Plunges 44 Percent

Declining print revenue at its newspapers and fewer readers for its Harlequin novels pushed profit at Torstar Corp. 44 per cent lower in its last quarter. "It was a difficult quarter as decline in results were experienced in both the book publishing and media divisions," chief executive officer David Holland said in a statement. "Management of costs remains a priority and helped to mitigate the impact of the revenue decline experienced in the quarter."