HARROWSTON ACQUIRES STAKE IN KEY MEDIA
By Adnews Staff
Toronto-based Harrowston Inc. is moving into a new area with the creation of a new as-yet-unnamed North American media company. The company will be headed by CEO Jim Warrillow, formerly president of Maclean Hunter Publishing Ltd. It will deliver branded content and entertainment across a range of media platforms. The company's first investment is a 50 per cent stake in Toronto-based Key Media Ltd. whose brands include Toronto Life, WEDDINGBELLS, Where and Fashion. Harrowston's media company will examine growth opportunities for these brands including e-commerce opportunities, new media formats and geographic expansion. The creation of the new company and the acquisition of Key Media are Harrowston's first moves into the media industry. Harrowston currently has stakes in Marsulex Inc., which provides environmental compliance solutions to the mining and oil refining industries, and Anchor Lamina Inc., a manufacturer of die sets, mould bases and related accessories. The Key Media transaction is expected to close by March 15. Key Publishers Company Ltd. will retain the remaining 50% of Key Media. Financial details were not disclosed.