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Torstar Corporation
Torstar Corporation was formed in 1958 to hold the Atkinson family's publishing interests, which had expanded beyond the flagship Toronto Star into a network...
Torstar Corporation
Torstar Corporation was formed in 1958 to hold the Atkinson family's publishing interests, which had expanded beyond the flagship Toronto Star into a network of community newspapers. The company's modern chapter began in 2020, when Jordan Bitove and Paul Rivett's NordStar Capital took the firm private in a transaction backed by Fairfax Financial Holdings. Rivett exited in 2022 following a legal dispute, leaving Bitove as the controlling publisher. Torstar's strategy centers on operating print and digital news properties, including the Toronto Star, while managing a portfolio of commercial real estate. The firm's property holdings include its headquarters at The Well (8 Spadina Avenue), the former headquarters at One Yonge Street, and industrial and commercial sites in Mississauga, Vaughan, and Hamilton. Revenue from these assets supports the news operations, creating a structure where the capital deployed into media is underwritten by a hard-asset base rather than pure advertising or subscription cash flows. The firm employs a network approach to governance, with affiliations including News Media Canada, The Trust Project, and YPO—Phyllis Yaffe serves as Lead Director. In May 2022, Paul Rivett departed NordStar Capital after a court-appointed arbitrator resolved a dispute between the co-founders, consolidating operational control under Bitove. This resolution marked a clear succession event for an enterprise whose wealth origination traces to Joseph Atkinson's newspaper career. Torstar's structural differentiator is its ownership of both the operating news business and the physical infrastructure that houses it. Unlike pure-play media companies that lease offices and rely exclusively on recurring content revenue, Torstar can redirect real estate cash flows to sustain journalism operations. This hybrid posture makes its balance sheet behave more like a diversified holding company than a traditional newspaper publisher, though the strategy's durability depends on the Ontario commercial property market.
General information
Firm type
Pension Fund
Year founded
1958
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
8 Spadina Ave, Toronto, Ontario, Canada
Additional offices
Mississauga, Ontario, Canada · Vaughan, Ontario, Canada · Hamilton, Ontario, Canada
Principals
Jordan Bitove
Founder, NordStar Capital; Publisher, Toronto Star
Sector focus
Frequently asked questions
Who controls Torstar Corporation today?
Jordan Bitove, founder of NordStar Capital, has been the controlling publisher of the Toronto Star since 2022. He and Paul Rivett originally acquired the company in 2020 with backing from Fairfax Financial Holdings. After an arbitrator resolved a partnership dispute in 2022, Bitove assumed sole operational control of the enterprise.
Is Torstar purely a newspaper company or a broader holding vehicle?
Torstar operates as a hybrid holding company. Its primary operating asset is the Toronto Star and a network of community publications. Alongside this, the firm owns a significant portfolio of commercial real estate, including its headquarters at The Well and several former printing and office sites across Ontario, which generate income that supports the journalism operations.
What is the relationship between Torstar and the Atkinson Foundation?
The Atkinson Foundation is a philanthropic entity that traces back to the family of Joseph Atkinson, the original wealth creator behind the Toronto Star. While it operates independently, it is linked to the broader Torstar legacy and focuses on social and economic justice initiatives in Ontario.
Does Torstar invest in sectors outside of media and real estate?
There is no public evidence that Torstar deploys capital into venture, private equity, or other alternative asset classes. The firm's known investment posture is concentrated in Canadian news organizations and Ontario commercial real estate.
What happened to Torstar's former headquarters at One Yonge Street?
The One Yonge Street property, which housed the Toronto Star for decades, is now a commercial asset within Torstar's portfolio. The company relocated its headquarters to 8 Spadina Avenue at The Well, a mixed-use development in Toronto, while retaining ownership of the One Yonge site.
How does Torstar source its revenue beyond newspaper subscriptions?
Torstar's model combines advertising, subscription, and licensing income from its news brands with commercial rental income from its owned properties. The real estate portfolio, which includes industrial and commercial sites in Mississauga, Vaughan, and Hamilton, provides a capital base that supplements the volatile economics of the news industry.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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