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jerryking : torstar   3

Torstar cuts jobs, internship programs; board chair says the company is fighting for survival - The Globe and Mail
SUSAN KRASHINSKY ROBERTSON
PUBLISHED FEBRUARY 13, 2018 | |

Torstar Corp. is fighting for survival......The struggles precipitated by declining print advertising, and by a booming digital economy that has been dominated largely by Facebook and Google – at the expense of others who would survive on digital advertising – have led to widespread job cuts. On Monday, the company tightened its belt one more notch, cutting 13 jobs in its digital and sales operations, slashing the Toronto Star's travel and freelance budgets and suspending its summer and year-long internship programs. The Star's internships were among the most prestigious in the country for training young journalists.

While cutting costs, Torstar is also attempting to establish its digital future....... What is your view of the impact consolidation has had in Canadian media? How much more consolidation is to come?

As you know, we just announced a consolidation deal. [In November, Torstar and Postmedia Network Canada Corp. swapped 41 newspapers and subsequently shut down most of them.] Publishing newspapers – dailies and weeklies – is becoming more and more challenging. In an effort to lengthen the runway, give us more time, these amalgamation deals have been done.
Susan_Krashinsky  Torstar  digital_media  digital_strategies  newspapers  digital_first  cost-cutting  subscriptions  paywalls  layoffs  consolidation 
february 2018 by jerryking

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