Canada's advertising income from Corona reduced, Gambling's support to save the newspaper!
abstract
Torstar was published in 1892. Today the group owns more than 70 regional and community newspapers. For the past few years, this group was involved in legal disputes. Then last August, it was sold to a company called Nordstar Capital LP…
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An example of how the print media is in crisis around the world has emerged in Canada. A large media house has now decided to run an online casino due to declining revenue from advertising. The challenges for print media had already increased due to the Internet and social media. But the Corona epidemic has broken her back in a way. Therefore, Canada's largest newspaper group has decided that by making money from online gaming, it will try to keep its newspapers alive.
The publisher of this newspaper group launched the online gaming app on Monday. Corey Goodman, executive officer of this group called Torstar, said in a statement - 'Torstar Group has been a trusted brand in the state of Ontario for 128 years. We are sure that Torstar will provide a unique and responsible gaming brand, creating new jobs, helping the growth of Ontario's economy, and generating new tax revenues, which will help drive significant programs in our province. '
Every year, people in Ontario province invest 500 million Canadian dollars (about 39.5 million US dollars) in online gambling. This market is expected to grow more. It is because of this that the provincial government is promoting online gambling. For this, it is allowing new companies to enter this market.
Torstar was published in 1892. Today the group owns more than 70 regional and community newspapers. For the past few years, this group was involved in legal disputes. It was then sold into the hands of a company called Nordstar Capital LP last August. The sale is said to have taken place at 60 million Canadian dollars. After buying the newspaper, the new company conducted several experiments to raise revenue. He also started the Parcel Delivery Service. In this connection, on Monday, the company decided to enter the field of online gaming. Experts say that the company has played an ambitious bet in this fashion.
The owners of the group have made it clear that these newspaper groups will continue to value progressive objectives, they will try to ensure this. Torstar president and co-owner Paul Rivett said in a statement - "The new initiative will help in the development and expansion of quality community journalism."
But a newspaper group's foray into the gambling sector is a surprise in Canadian journalism circles. It has been severely criticized on social media. There have also been sarcasm about this. However, it has also been pointed out that Torstar has an old history of venturing into high-profit businesses and raising money for the newspaper.
The Torstar Group previously ran the business of publishing love fiction novels. But in 2014, he sold the associated company for $ 450 million. Now it has landed in the field of online gambling, although it has not yet received permission from the local government for this.
The publisher of this newspaper group launched the online gaming app on Monday. Corey Goodman, executive officer of this group called Torstar, said in a statement - 'Torstar Group has been a trusted brand in the state of Ontario for 128 years. We are sure that Torstar will provide a unique and responsible gaming brand, creating new jobs, helping the growth of Ontario's economy, and generating new tax revenues, which will help drive significant programs in our province. '
Every year, people in Ontario province invest 500 million Canadian dollars (about 39.5 million US dollars) in online gambling. This market is expected to grow more. It is because of this that the provincial government is promoting online gambling. For this, it is allowing new companies to enter this market.
Torstar was published in 1892. Today the group owns more than 70 regional and community newspapers. For the past few years, this group was involved in legal disputes. It was then sold into the hands of a company called Nordstar Capital LP last August. The sale is said to have taken place at 60 million Canadian dollars. After buying the newspaper, the new company conducted several experiments to raise revenue. He also started the Parcel Delivery Service. In this connection, on Monday, the company decided to enter the field of online gaming. Experts say that the company has played an ambitious bet in this fashion.
The owners of the group have made it clear that these newspaper groups will continue to value progressive objectives, they will try to ensure this. Torstar president and co-owner Paul Rivett said in a statement - "The new initiative will help in the development and expansion of quality community journalism."
But a newspaper group's foray into the gambling sector is a surprise in Canadian journalism circles. It has been severely criticized on social media. There have also been sarcasm about this. However, it has also been pointed out that Torstar has an old history of venturing into high-profit businesses and raising money for the newspaper.
The Torstar Group previously ran the business of publishing love fiction novels. But in 2014, he sold the associated company for $ 450 million. Now it has landed in the field of online gambling, although it has not yet received permission from the local government for this.
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