TORSTAR FORMS INTERACTIVE MEDIA GROUP
By Adnews Staff
Torstar Corporation is combining the interactive functions of the company's three operating divisions to form a new interactive media division for the purposes of financial reporting. The new division will be comprised of the company's Web sites, Toronto Star Television and Torstar's Internet-related investments which total $40 million. Torstar's Web sites include: <http://www.thestar.com>, <http://www.toronto.com>, a 40% stake in <http://www.globecareers.com>, and <http://www.eHarlequin.com>. The interactive media division also includes Toronto Star Television, which broadcasts on Rogers and Shaw cablesystems. TSTV combines direct-response advertising with news headlines, features and promotions from the Toronto Star newspaper. Torstar's interactive media division also includes a portfolio of Internet-related investments including Women.com Inc., Grocery Gateway.com Inc. and Autoweb.com Inc. David Galloway, president and CEO of Torstar, said the corporation has made significant financial commitments to the interactive media market and will continue to expand in the future. "The financial reporting will reflect the increased importance of interactive media in Torstar's future," he said.