Torstar and Metro International Acquire CanWest Interest in Metro Vancouver and Metro Ottawa



    TORONTO, May 31 /CNW/ - Torstar Corporation and Metro International S.A.
today announced that they have acquired the interest held by CanWest
MediaWorks Publications Inc. in the Metro Vancouver and Metro Ottawa free
daily newspapers, launched in March 2005. Each of Torstar and Metro
International now has an approximate 50% financial interest in those
newspapers.
    "This new ownership structure extends the solid foundation that already
exists in the Metro operations in Toronto, Calgary and Edmonton," says Jagoda
Pike, President Star Media Group and Chair of the Board of Directors of the
English Canada Metro newspapers. With a consistent ownership structure now in
place in all five English Metro markets, the Metro newspapers will be managed
with a single-minded focus on the development and growth of the Metro brand
across English Canada."
    Including the five Metro papers jointly owned by Torstar and Metro
International, there are currently Metro newspapers in Canada's largest six
cities, which represent approximately 45% of the total Canadian population.
    "We are pleased with this transaction as we had come to the conclusion
that these two properties are no longer a strategic fit for our publishing
group," said Dennis Skulsky, President of CanWest MediaWorks Publications Inc.

    About Metro International and Metro
    Metro is the largest and fastest growing international newspaper in the
world. Metro is published in over 100 major cities in 21 countries across
Europe, North & South America and Asia. Metro has a unique global reach -
attracting a young, active, well-educated Metropolitan audience of over
20 million daily readers. Metro International's advertising sales have grown
at a compound annual rate of 41% since the launch of the first edition in
1995.

    Metro International 'A' and 'B' shares are listed on the OMX Nordic
Exchange's Nordic List under the symbols MTRO SBD A and MTRO SBD B.

    For further information, please visit www.metro.lu, or contact:
    Birgitta Henriksson, IR contact, Ph: +46 (0) 70 812 86 39

    About Torstar Corporation
    Torstar Corporation is a broadly based media company listed on the
Toronto Stock Exchange (TS.B). Its businesses include the Star Media Group led
by the Toronto Star, Canada's largest daily newspaper, and digital properties
including thestar.com, toronto.com, LiveDeal.ca, Workopolis and Olive Canada
Network; Metroland Media Group, publishers of community and daily newspapers
in Ontario; and Harlequin Enterprises, a leading global publisher of women's
fiction.
    Torstar's news releases are available on the Internet at www.torstar.com

    For more information please contact:
    David Holland
    Executive Vice-President and Chief Financial Officer
    Torstar Corporation
    (416) 869-4031

    About CanWest MediaWorks

    CanWest MediaWorks Publications Inc. is the largest publisher of
newspapers in Canada, as measured by paid circulation, readership and revenue,
with ten major metropolitan daily newspapers serving nine Canadian cities,
including: Vancouver Sun, The Province (Vancouver), Ottawa Citizen, The
Gazette (Montreal), The Edmonton Journal, Calgary Herald, The Windsor Star,
Times-Colonist (Victoria), Leader Post (Regina), Star Phoenix (Saskatoon),
together with 25 community daily and weekly and bi-weekly publications.
    CanWest MediaWorks Publications Inc. is 74% indirectly owned by CanWest
Global Communications Corp, (NYSE:   CWG; TSX: CGS and CGS.A,
www.canwestglobal.com), and 26% indirectly owned by the CanWest MediaWorks
Income Fund (TSX: CWM.UN; www.cwmincomefund.com.) CanWest Global
Communications Corp., an international media company, is Canada's largest
media company. The Company also owns, operates and/or holds substantial
interests in free-to-air and subscription-based television networks,
out-of-home advertising, web sites, and radio stations and networks in Canada,
New Zealand, Australia, Singapore, Turkey, the United States and the United
Kingdom.





For further information:

For further information: Deb Hutton, SVP Corporate Communications,
CanWest Global Communications Corp., (416) 383-2442 or dehutton@canwest.com

Organization Profile

CANWEST

More on this organization

TORSTAR CORPORATION

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890