MetroToday Scheduled To Launch in Toronto

Posted on July 3, 2001

Torstar Corporation and Metro International S.A. announced that MetroToday, a free daily newspaper that will replace the current competing Today and Metro newspapers, is scheduled to be launched on Monday, July 9, 2001. The circulation of MetroToday will capitalize on the distribution strengths of the former competitors, and will start at approximately 190,000 copies. This will make MetroToday the second largest circulation newspaper in the Greater Toronto Area.

Greg Lutes, formerly publisher of Metro, will be publisher of MetroToday. Andrew Go, President, Business Ventures, Torstar Media Group will be the first Chairman of the Board at MetroToday. The launch announcement follows a favorable ruling from the Canada Customs and Revenue Agency on the formation of the corporate joint venture that will publish MetroToday.

``Both Metro and Today have already proven that there is a place in the market for a commuter paper. By coming together we will be able to offer our readers and advertisers an even stronger paper,'' said David Galloway, President and Chief Executive Officer for Torstar Corporation. ``We look forward to our relationship and the opportunity to work with Metro International.''

Steve Nylundh, Executive Vice-President of Metro International, said: `` We believe that MetroToday will be a successful and entertaining publication in Toronto for a very long time, and look forward to a productive and fruitful relationship with the Torstar Group.''