Competitive Position
The advent of the National Post in 1998 shook up the Toronto newspaper market. In the upheaval that followed, editorial spending increased and there was much hiring and firing of editors and publishers. Toronto newspapers have yet to undergo the large-scale layoffs that have occurred at most other newspapers in Canada and the United States.
The Toronto Star has been profitable in most recent years. The residual strength of the Star is its commanding circulation lead in Ontario. The paper remains a "must buy" for most advertisers. Some competing papers consistently lose money, are only marginally profitable, or do not break out earnings in a way that makes comparison possible. However, the Star has long been criticized for inflating circulation through bulk sales at discount rates.
Margins have declined and some losses have been recorded. In 2006, several financial analysts expressed dissatisfaction with The Star's performance and downgraded their recommendations on the stock of its parent company, Torstar. In October 2006, the publisher and editor-in-chief of The Star were replaced amid reports of boardroom battles about the direction of the company. A redesigned paper launched in May 2007. It featured 17% less space for editorial content and a greater emphasis on local coverage. However, the paper reverted to its pre-May 2007 design on January 1, 2009.
Read more about this topic: Toronto Star
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