ROGERS SAID TO EYE TORSTAR BID

Posted Friday, October 6, 2000 12:00 am

By: Staff Reports Torstar Shares See Heavy Trading

TORONTO - (The Hollywood Reporter) As consolidation in the Canadian media industry gathers pace, speculation is mounting that newspaper group Torstar Corp. could face a takeover bid from cable giant Rogers Communications Inc.

Torstar shares traded on heavy volume Wednesday on the Toronto Stock Exchange, down CAN55 cents (37 cents) to CAN$24.70 and slightly off a 52-week high of CAN$25.85 reached earlier week when investors began digesting persistent media reports that Rogers is planning a CAN$32-a-share bid for Torstar. Such an overture would value Torstar at about CAN$2 billion ($1.34 billion).

A Rogers spokeswoman said the company never comments on media speculation.

Torstar's assets include The Toronto Star, other Canadian newspapers, and romance publisher Harlequin Enterprises Ltd.

Copyright 2000, Editor & Publisher.

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ROGERS SAID TO EYE TORSTAR BID

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