Just one week after Metro News held a summer party celebrating their new advertising partnership with parent Torstar Corp, a restructuring with the Toronto Star and its free daily Metro papers was announced yesterday. As part of the restructuring Torstar eliminated the role of President and Publisher which was held by Bill McDonald since 2010. He will stay on with while the company completes its transition, and moving forward the Start and Metro will have separate Chief Operating Offices We have just been told by a source the cuts actually run deeper than what has been covered in other publications, Jeff Smith who was Metro’s Vice President, Creative was also let go. Unfortunately revenues with the Metro papers fell 4.6% in the first quarter of 2014 while the cost of print continues to increase. Last week we also saw the end of The Grid (also owned by Torstar) after only 162 issues. This is not the first time that lower than expected revenues have forced Torstar Corp to cut staff, and perhaps not the last for the year.
[adrotate banner=”6″]
