Jonny5
Senior Member
Uh oh!
This literally could be the end of the Toronto Star, though I suspect it will be sold of for an amount that a rich Canadian can pay to use it as their personal toy.
Relationship breaks down between Torstar owners, one seeks order to wind up company
TORONTO — One of the owners of Torstar Corp. is seeking a court order to wind up the media company, citing "irreparable" damage to the relationship with his business partner. Paul Rivett, one of the owners of Nordstar Capital Inc.
ottawa.citynews.ca
Nordstar owns Torstar Corp., Metroland Media Group and NorthStar Gaming Inc.
"Given the operational state of the companies, the applicants, employees of the controlled companies, and Torstar’s news readers all stand to suffer irreparable harm if interim relief is not granted," the filing says.
Rivett has asked the court to appoint PricewaterhouseCoopers to manage an asset sale to resolve the "impasse" between the two parties.
The court document says Bitove resigned from Nordstar's board of directors on Aug. 13.
This literally could be the end of the Toronto Star, though I suspect it will be sold of for an amount that a rich Canadian can pay to use it as their personal toy.