(Adds details)
March 2 (Reuters) - Torstar Corp TSb.TO , owner of Canada's
largest circulation daily newspaper, posted a surprise adjusted
quarterly loss as print advertising revenue continues to slide.
The decline in print advertising revenue has forced the
Toronto Star publisher to slash costs while pushing its Star
Touch product, a tablet edition meant to help boost digital
revenue.
Print advertising revenue for 2015 fell 12.5 percent to
C$381.1 million for the year ended Dec. 31.
Excluding items, it posted a loss of 10 Canadian cents per
share, compared with analysts' estimate for a profit of 2
Canadian cents per share, according to Thomson Reuters I/B/E/S.
The company reported a net loss from continuing operations
of C$233.4 million, or C$2.90 per share, compared with a profit
of C$20.9 million, or 26 Canadian cents a year earlier.
Revenue fell 8.4 percent to C$213.7 million.