Torstar Completes Investment to Acquire Black Press

Toronto-based Torstar Corporation makes $20 million investement to acquire a 19.35 per cent share of Black Press Ltd., a privately owned company based in Victoria, B.C., which publishes 88 local newspapers and operates 11 printing plants in Western Canada, Washington State and Hawaii. The transaction closed in escrow on September 30, 2002, subject to the satisfaction of certain conditions by Black Press.

Torstar was represented in-house by Marie Beyette, director, legal services, and corporate secretary; and by Clay Horner and John Leddy of Osler, Hoskin & Harcourt LLP. Les Jamieson of Patterson Adams in Victoria represented Black Press.