Torstar Corporation
TSX : TS.NV.B

October 25, 2005 09:00 ET

Torstar Invests In LiveDeal.com

TORONTO, ONTARIO--(CCNMatthews - Oct. 25, 2005) - Torstar Corporation (TSX:TS.NV.B) today announced that it has invested US$3 million for a minority position in LiveDeal.com, a growing localized online classifieds provider that has been operating in the United States since 2003.

Torstar also announced that its digital division, Torstar Digital, has entered into a joint venture to create LiveDeal Canada. LiveDeal Canada is designed to provide Canadians with a cost-effective, easy-to-use and efficient marketplace for buying and selling goods at both local and national levels.

"LiveDeal's overwhelming success in the U.S. is a testament to our unique value proposition of helping people cost-effectively buy and sell items on the local level," said Rajesh Navar, founder and CEO of LiveDeal. "Our U.S. listings have grown substantially this past year, and we are ready to roll out our free local online classifieds platform in international markets. We are thrilled to be aligning with Torstar and its respected Canadian media brands for the first step of our international expansion strategy."

"Torstar remains laser-focused on providing Canadians with value-added community and advertiser services that complement our print and online news offerings," said Tomer Strolight, president of Torstar Digital. "With LiveDeal's robust, online classifieds platform we expect to provide not only our readership and advertisers, but the entire Canadian marketplace, with a large and sophisticated free online classifieds offering for all of Canada. Together, Torstar and LiveDeal will make buying and selling hard to ship and 'try before you buy' items in Canada easier, simpler and more cost-effective than ever before."

Torstar Corporation is a broadly based media company listed on the Toronto Stock Exchange (TS.nv.b). Its businesses include newspapers led by the Toronto Star, Canada's largest daily newspaper; CityMedia Group, publishers of daily and community newspapers in Southwestern Ontario; Metroland Printing, Publishing & Distributing, publishers of more than 90 community newspapers in Southern Ontario; and Harlequin Enterprises, a leading global publisher of women's fiction. Torstar's news releases are available on the Internet at www.torstar.com.

Contact Information

  • Torstar Corporation
    David P. Holland
    Executive Vice-President and CFO
    (416) 869-4031