Revenue of $433 million, down 5% over prior year on a constant currency basis, including the impact of a $10 million journal backfile sale in the prior year period Journal subscription revenue of $163 million, down 1% on a constant currency basis, including the trailing effects of the Swets subscription agency bankruptcy Adjusted EPS of $0.78, down 10% on a constant currency basis, including the $0.10 impact of the large journal backfile sale in the prior year period First half revenue and adjusted EPS down 2% and 1%, respectively, on a constant currency basis
Torstar Corporation announced today it has entered into a long-term partnership with Cineplex whereby Torstar will acquire publishing and exclusive theatre distribution rights of Cineplex Magazine, Canada’s leading entertainment publication.
A mainstay of both the Canadian movie and publishing scenes for more than 20 years, Cineplex Magazine delivers exclusive interviews with A-list stars, the inside scoop on coming movies, and compelling photos from current films, movie sets and red-carpet events. Torstar will continue both print and digital publications of the magazine under the brand Star Cineplex. The two companies will work together to deliver exclusive content to movie fans and entertainment lovers across Canada.
“Cineplex Magazine is a fixture of the movie going experience in Canada,” said Paul Rivett, chair and co-owner of Torstar Corporation. “We are excited to take our Torstar capabilities around content development, publishing, sales and operations to make Star Cineplex both a successful business and offer an entertaining reading experience to the audience. We look forward to continuing that tradition and developing engaging, high-quality entertainment content for the Canadian audience through Star Cineplex.”
“We’ve been entertaining Canadians for over a century and for well over 20 of those years our guests have enjoyed Cineplex Magazine with our famous popcorn before the action on the big screen begins,” said Ellis Jacob, President and Chief Executive Officer, Cineplex. “We are proud that as part of this partnership the magazine will continue to be available for free at theatres across Canada and will reach even more Canadians with expanded digital publications and the scale of Torstar print publications.”
As part of the transaction, SCENE members can now also look forward to receiving advanced and exclusive content from Star Cineplex. Cineplex Magazine is the most popular entertainment magazine in Canada with over 3 million readers per issue and it is anticipated these readership levels will return and grow as theatres reopen and Canadians seek safe, out of home entertainment experiences.