TORSTAR GETS OUT OF CATALOGUE MARKETING BUSINESS
By Adnews Staff
Toronto-based Torstar Corp. announced last week that it has sold its catalogue marketing business, Oshkosh, Wisconsin-based Miles Kimball Co., to a group lead by that business's management. The sales proceeds come to about U.S. $27 million. However, part of the deal has Torstar re-investing U.S. $4 million in the new Miles Kimball Co. "Miles Kimball was a good investment for Torstar over the years, but catalogue marketing is not one of our core businesses," said David Galloway, Torstar's CEO. "We believe that the new owners will continue to grow the business in the future." Torstar's operations include The Toronto Star, Metroland Printing, Publishing & Distributing, Harlequin Enterprises and the Children's Supplementary Educational Publishing Division.