Torstar Sells Digital Marketing Technology to Loblaw Companies Ltd.
TORONTO, Nov. 26, 2020 /CNW/ - Torstar Corporation announced the sale of digital advertising technology developed by its subsidiary, Eyereturn Marketing Inc., to Loblaw Companies Ltd. (TSX: L; "Loblaw").
The Eyereturn Marketing team will continue to serve its advertising clients, working closely with them to provide innovative and effective digital advertising solutions by using best-in-class ad tech. The business remains an important part of Torstar and Eyereturn intends to leverage its relationships and capabilities to evolve Torstar's presence in digital advertising markets.
"We are committed to growing out our capabilities to best support our advertisers," said Michael Beckerman, Torstar's Chief Client Officer. "We continue to invest in our core assets and extend our reach and relevance to help our advertisers reach their target audience. This transaction enables us to best support our clients that are on the Eyereturn platform and divest part of a legacy asset at the same time."
Advisor
R&D Venture Partners acted as financial advisor to Torstar for this transaction.
About Torstar Corporation
Torstar Corporation, a wholly-owned subsidiary of Nordstar Capital LP, is a broadly-based media company whose businesses include the Toronto Star, Canada's largest daily newspaper, six regional daily newspapers in Ontario including The Hamilton Spectator and more than 70 weekly community newspapers in Ontario; flyer distribution services: and digital properties including thestar.com (with local editions in Toronto, Vancouver, Calgary, Edmonton, Winnipeg, Ottawa and Halifax), wheels.ca, toronto.com, save.ca, a number of regional online sites and Eyereturn Marketing. It also holds a majority interest in VerticalScope, a North American vertically-focused digital media company.
SOURCE Torstar Corporation
For Sales inquiries, please contact: Pary Bell, SVP Sales Operations, Torstar, General Manager, Eyereturn Marketing, [email protected]; For Media inquiries, please contact: Bob Hepburn, Director, Communications, Torstar Corporation, (416) 869-4947; [email protected]
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