p2pnet news | Advertising:- Look to the Net for salvation.

And fire a few dozen people.

That might be summed up as the Toronto Star’s new philosophy.

Three new websites, parentcentral.ca, healthzone.ca and yourhome.ca, have now gone online, and, “Torstar Corp., the owner of Canada’s largest-circulation daily, is cutting 160 jobs in a restructuring prompted by continuing weakness in the newspaper industry,” says the CBC.

“The parent company of the Toronto Star said Thursday the restructuring involves ‘a combination of voluntary and involuntary staff reductions’.”

It’ll take a $21-million “charge” as part of the process, but, “expects to save $12 million annually in labour costs,” says the story.,

Parentcentral.ca, healthzone.ca and yourhome.ca primarily reuse content from the Star and other “traditional newspapers,” also serving to, “entice specific target audiences that could be a boon for advertising dollars,” says the Canadian Press.

“The concepts build on the success of the Wheels section of the Star, which made the leap to online with its own sister website, and brought along with it the interest of major car companies that ultimately bought ad space.”

Slashdot it! Stumble It!

CBC - Torstar cutting 160 jobs prompted by weakness in newspaper industry, April 17, 2008
Canadian Press - Canadian media giants rethink newspaper operations with Internet in mind, April 19, 2008

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This entry was posted on Monday, April 21st, 2008 at 11:28 am and is filed under Advertising, P2P. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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