Torstar makes money but loses print advertising revenue

Torstar Corp., owner of Canada’s largest newspaper, has reported results which seem to show it is living off the proceeds of the sale of its former assets such as Harlequin Publishing  At the same time, the publishing company reported further losses in print advertising . With all of this however, Torstar says it made a fourth quarter profit of  $20.6 million or 26 cents per share, almost unchanged from a year ago despite the lower revenue.