TORONTO — Torstar Corp. (TSX:TS.B) reported a smaller second-quarter loss compared with a year ago as it saw improved results from its digital media company VerticalScope.The publisher of the Toronto Star said it lost $7 million or nine cents per share in the three months ending June 30 compared with a loss of $23.9 million or 30 cents per share a year ago.Operating revenue totalled $161.8 million for what was the company’s latest quarter, down from $177.9 million a year earlier.Torstar chief executive John Boynton said VerticalScope posted strong year-over-year growth in revenue, while the company’s Metroland Media Group and Star Media Group benefited from efforts to reduce costs.“We’re facing continued headwinds but we continue to make great progress,” Boynton said during a conference call with financial analysts to discuss the company’s latest results.“We continue to be very encouraged by our VerticalScope side and we continue to be very encouraged by our core digital and news sites and their performances as well.”Torstar holds a 56 per cent stake in VerticalScope, which owns and operates hundreds of online forums and websites including AutoGuide.com, PetGuide.com, Motorcycle.com and ATV.com.In its outlook, the company said cost reduction will remain an important area of focus for the balance of the year. Revenue growth at VerticalScope is also expected to continue in the second half of 2017.Torstar said its most recent quarter included a $6.3-million non-cash amortization and depreciation charge related to its investment in VerticalScope and $6.1 million in restructuring charges.That compared with a $26.6-million non-cash charge related to VerticalScope last year as well as $6.9 million in restructuring charges and a $4.5-million non-cash charge related to the transition of printing of the Toronto Star to Transcontinental.On an adjusted basis, Torstar says it lost three cents per share in the second quarter compared with a loss of 13 cents per share in the same quarter last year.——Torstar holds an investment in The Canadian Press as part of a joint agreement with a subsidiary of the Globe and Mail and the parent company of Montreal’s La Presse.
The Canadian Mental Health Association (CMHA) is holding the annual Ride Don’t Hide event at Brock University June 26.Starting at 9:30 a.m. at Brock, riders can choose their routes and do 5 km, 15 km or 35 km.The national event raises money for mental health. To donate, participate or learn more about the fundraising event visit the website.The Health Management Office organized events on campus to support National Mental Health Week which occurred from May 2 through to May 8. This year, the CMHA asked Canadians to “get loud” for mental health at various events that took place in communities across Canada. To show support and raise awareness, Health Management arranged an art activity drop-in, offered a free yoga class, a workshop on creating balance in one’s life and concluded the week with an outdoor walk and a fundraising barbecue. The barbecue raised $300 and has been provided to CMHA – Niagara Branch for local mental health initiatives. The week was an overall success, which the Health Management Office hopes to build on by continuing to bring mental health awareness to the Brock community. Recreation Services provided the instructor and space for the yoga session.For more information on CMHA – Niagara and their resources, please check out their website at CMHA – Niagara.