Torstar announces agreement to sell Hamilton Spectator building

Published February 3, 2020 at 1:19 pm

Torstar Corporation announced Monday that it has an agreement to sell the land and building used by the Hamilton Spectator at 44 Frid St, for a purchase price of $25.5 million.

Torstar Corporation announced Monday that it has an agreement to sell the land and building used by the Hamilton Spectator at 44 Frid St, for a purchase price of $25.5 million.

“The agreement is subject to customary closing conditions and adjustments,” according to the official release. Torstar anticipates that the sale will be completed in the first quarter of 2020.

The Hamilton Spectator announced in May 2019 that it was closing its printing and mailroom operations and exploring selling its building. The official move on Aug 2019 meant 73 full-time and 105 part-time staff was laid off.

“This was a difficult but necessary decision in the face of declining print revenues,” Torstar chief executive John Boynton said in a statement.

“This is in no way a reflection of the print and mailroom quality at the Hamilton facility, but rather a decision based on aging presses and more cost-effective alternatives.”

Torstar Corporation is a broadly based media company. Its businesses include the Toronto Star, six regional daily newspapers in Ontario including The Hamilton Spectator, and more than 80 weekly community newspapers in Ontario; flyer distribution services: and digital properties.

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