TORSTAR ENTERS A CLASSIFIED VENTURE
By Adnews Staff
Torstar Corporation has a new partner for a new venture. The publishing company has joined forces with auctions.com, a subsidiary of Chicago-based Classified Ventures, to launch a Canada-wide online auction service. The service will feature both auction and fixed price merchandise from retailers. Marketing plans for the site include promoting it to the readers of Torstar's five daily newspapers, including the Toronto Star, as well as to readers of its almost 60 community newspapers across Ontario. Torstar will hold an 80% stake in the partnership while the remaining 20 % will be held by auctions.com. Plans call for the new service to launch in the second quarter of 2000.
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