MANAGEMENT, UNION TO TAKE HARD LOOK AT TORONTO STAR
By Adnews Staff
The Toronto Star has started a major review of its long-term strategy and has asked its unions to be a part of the process, according to a Globe and Mail report. Star officials did not return Adnews phone calls last week to confirm or deny. The Globe said The Star's largest union, the Southern Ontario Newspaper Guild, had agreed to participate in the review, and management was waiting to hear if other unions would co-operate in the process which would even give the unions a look at the newspaper's financial records for the first time. The review will look at revenue enhancement, new business opportunities, organizational dynamics and cost factors - in that order. The Star has apparently hired the Canadian arm of the Boston Consulting Group to assist in the review. This organization advised Canadian Airlines International, which ended up selling shares to its employees. The daily has been battered by increasing newsprint prices and sluggish advertising sales. After losing $32 million in 1993, The Star squeezed out an $8-million profit last year. Advertising revenues have been growing this year, but largely because of rate hikes. The paper is owned by Torstar Corp. of Toronto, which also produces Harlequin romance novels, community newspapers and supplementary educational supplies.