Just before 8:00 Tuesday evening, Torstar sent out a news release announcing its own sale. After years of its share price and management flailing in full view of the public, the TSX-listed company that publishes the Toronto Star, Hamilton Spectator, and dozens of other newspapers will be taken private in a $52 million deal.
The new owners? A recently established company called NordStar Capital LP, registered in Manitoba less than a month ago, with the Toronto office of law firm Norton Rose Fulbright as its official address. The nordstarcapital.ca domain was registered on Sunday afternoon, with email@example.com as the email contact.