Torstar Corp. selling Hamilton Spectator building, land for $25.5 million

By iNFOTEL
February 03 2020 05:50 AM

TORONTO – Torstar Corp. has signed a deal to sell the land and building used by the Hamilton Spectator newspaper for $25.5 million.

The sale follows a move by Torstar last spring to close its Hamilton printing and mailroom operations.

Torstar said last year that if the property was sold it expected the Spectator will continue to operate a head office in a new location in the Hamilton area.

The sale is subject to customary closing conditions and adjustments and is expected to be completed in the first quarter of this year.

Torstar publishes the Toronto Star as well as six regional daily newspapers in Ontario, including the Spectator, and more than 80 weekly community newspapers in Ontario.

Torstar holds an investment in The Canadian Press as part of a joint agreement with subsidiaries of the Globe and Mail and Montreal’s La Presse.

This report by The Canadian Press was first published Feb. 3, 2020.

Companies in this story: (TSX:TS.B)