Torstar Corp. says it has agreed to be sold to NordStar Capital for $52 million.
The transaction, which will see the media company taken private, was recommended by a special committee of Torstar’s board of directors and has the support of the majority of its shareholders and its largest independent shareholder, Fairfax Financial Holdings Ltd.
NordStar is controlled by two well-known Toronto entrepreneur’s Jordan Bitove and Paul Rivett.
Besides the Toronto Star, Torstar owns six other daily papers in Ontario.
More to come
