Torstar, CanWest and Metro to Launch Commuter Papers

Posted on March 27, 2005

Torstar Corporation, CanWest MediaWorks and Metro International S.A. has announced the formation of a new joint venture to publish an English-language free daily newspapers in various Canadian cities. Each company will have a 33.3% interest in the new venture. The new venture will commence with the launch of Metro Vancouver, a free daily designed to provide news items in an easy-to-read format for commuters. Metro Vancouver will be distributed free of charge through street samplers and 2,500 boxes situated in transit stops, university campuses and highly populated business districts. Initial daily distribution for the Greater Vancouver Area will be 145,000, with plans to increase circulation to 160,000. To date, Metro in Canada (including Metro Toronto and Metro Montreal) boasts a weekly readership of 1,295,000, and continues to show double-digit growth each year. Metro Vancouver is the third Metro publication to be launched in Canada, and follows on the heels of Metro editions in Toronto and Montreal.