The Toronto Star and its subsidiary newspapers in Hamilton, Kitchener and Guelph has reported a stunning drop in revenue as a result of fleeing display advertising. Torstar announced today the second quarter ending June 30 saw operating revenue of $206.3 million against $225.6 million last year.. The company reported a loss attributable to shareholders of $1.1 million for the quarter compared with a profit of $19.7 million a year ago. The results include the firm’s Metroland community papers. Torstar also said it had bought into the web forum company VerticalScope. It has more than 600 consumer enthusiast online forums and premium content sites. The Financial Post said statistics referenced by Torstar, VerticalScope’s roster of sites attracts a combined total of more than 80 million unique visitors per month and more than 500 million page views. It makes money from selling banner advertising and through sponsored content. It employs 130 people. There was no information in the Torstar announcement about the profitability of VerticalScope.
