Torstar sells Vaughan printing plant for over $50 million
In January 2016, Torstar announced they were shuttering the plant, laying off 285 employees in the process.
By H.G. Watson, Associate Editor
Torstar’s Vaughan, Ont. printing plant has been sold for over $50 million.
On Sep. 19, Torstar announced that the printing plant has been sold for $54,250,000. According to Reuters, Torstar did not disclose who bought the property.
In January 2016, Torstar announced it was shuttering the plant, laying off 285 employees in the process. On Jan. 15, Torstar announced that they had struck a deal with Transcontinental to print the Toronto Star.
Torstar had a net loss of $23.9 million in the second quarter, and laid off 52 staff, including 19 permanent unionized newsroom staff at the Toronto Star, and 26 contract temporary staff, on Aug. 10.
According to a Torstar press release, the sale is expected to be completed in the late third quarter or early fourth quarter.
H.G. Watson can be reached at email@example.com or on Twitter.
H.G. Watson was J-Source’s managing editor from 2015 to 2018. She is a journalist based in Toronto. You can learn more about her at hgwatson.com.