STAR GROUP SELLS COMMUNITY NEWSPAPERS
By Adnews Staff
Star Group Newspaper Networks of Toronto has sold its community newspaper subsidiary, which had accumulated over $1 million of debt since 1990. Called Star Group Community Newspapers, the division, which publishes four newspapers in Central Ontario, was sold to a debenture holder and shareholder. This was done in exchange for cancellation of all outstanding debentures, amounting to $300,000. Star Group is also asking shareholders to change the company name to Star Group Networks to better reflect the long term direction of the firm and position it with the interactive multimedia market.
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