Updating Torstar Corp., Restaurant Brands International Inc., and IGM Financial Inc.

Article Excerpt

TORSTAR CORP. $0.91 (Toronto symbol TS.B; Aggressive Growth Portfolio; Consumer sector; Shares outstanding: 80.7 million; Market cap: $73.4 million; Price-to sales ratio: 0.1; TSINetwork Rating: Extra Risk; Dividend yield: 11.0%; www.torstar.com) publishes The Toronto Star, along with StarMetro commuter dailies in Toronto and four other major markets. Its other holdings include additional daily and weekly papers in Ontario and a 56% stake in VerticalScope. That firm operates over 600 online forums and a variety of websites. In the three months ended September 30, 2018, overall revenue fell 13.0%, to $143.2 million from $164.6 million a year earlier. That decline is mainly due to a 24.2% drop in print advertising revenue for the company’s daily newspapers. Digital ad revenue also fell 10.7%. In response to slowing revenue from print ads, Torstar continues to cut jobs and other costs. It also continues to invest in new businesses, including its recent acquisition of iPolitics, a website focused on Canadian political news and opinion. The company’s losses in the quarter worsened to…

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