Torstar bid shakes up industry

Article Abstract:

Torstar Corp.'s offer to acquire Sun Media Corp. heightens the continuing consolidation of newspaper ownership in the Canadian market and at the same time raises competition concerns in Toronto, Ontario, where the two firms compete head to head. Torstar is the publisher of The Toronto Star, the newspaper in Canada with the biggest circulation, while Sun Media publishes The Toronto Sun, the main rival of Toronto Star. The two newspapers are the only daily publications with focus on Ontario. The deal is now being put into consideration by the federal Bureau of Competition to evaluate the effect of the proposed merger to the editorial and advertising markets in the Greater Toronto area and southwestern Ontario.

Comment:

Its offer to buy Sun Media heightens continuing consolidation of newspaper ownership in Canada

Asset sales & divestitures, Acquisitions & mergers, Newspapers, Newspaper Publishers, Newspaper publishing, SunMedia Corp., Torstar Corp., Article

Algoma to close mills, cut 800 jobs

Article Abstract:

Algoma Steel Inc has announced a loss of C$59.1 million on a revenue of C$1.27 billion for the FY98, from a profit of C$51.9 million on $1.26 in FY97. The company said that the loss was caused in part by declining sales and lower selling prices for key products as a result of dumping of steel imports into Canada. To improve its bottomline, Algoma announced that it lay off 800 workers, shut down two steel mills and discontinue its steel pipe and structural steel operations.

Sales, profits & dividends, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Algoma Steel Inc.

Deals push quiet EdperBrascan firm into spotlight

Article Abstract:

EdperBrascan Corp is being put into the spotlight with recent deals that involve its lending and finance subsidiary, Trilon Financial Corp. EdperBrascan owns 65% of Trilon, which is the main lender to Royal Oak Mines Inc, which recently file for bankruptcy protection. Trilon is also set to shell out C$40 million to buy out the public shareholders of Royal LePage Ltd, a real estate brokerage 55%-controlled by Trilon.

Commercial Banking, Strategy & planning, Business Financing, EdperBrascan Corp.