Nordstar Capital to acquire Torstar from Fairfax for $44m.

Nordstar Capital, a private equity firm, is set to acquire Torstar, a media publishing agency, from private equity firm Fairfax for $44m. Torstar believes that the transaction offers shareholders a significant premium. Further, Torstar believes the transaction will allow for the continuation of the company's storied history: a home for world class, local journalism and fearless, progressive positions. "While we have loved the company and are immensely proud of it, the time has come to pass the torch. We hope the sale will benefit Torstar in the years ahead and believe that this is the beginning of an exciting new chapter for the company. We are delighted to know that the new owners have pledged to build on Torstar's legacy of quality journalism and to promote the Atkinson Principles at the Toronto Star," John Honderich, Torstar Chairman of the Board.