Canada's Torstar Corp said first-quarter sales slipped, hurt by an 8 percent fall in revenue at its media business, which publishes the country's largest daily newspaper the Toronto Star. Operating revenue from the media business fell to C$211.3 million ($194 million) in the quarter ended March 31, from C$229.8 million, a year earlier.The company's total sales slipped 7 percent to C$292.4 million.Net income attributable to shareholders rose 70 percent to C$7.1 million, or 9 Canadian cents per share, as operating costs fell 7 percent.Torstar said last week it would sell its Harlequin romance novel publishing business to News Corp for C$455 million. ($1 = 1.0893 Canadian Dollars)
News Corporation is a diversified media and information services company. Shares of NWSA fell by 1.49% or $-0.26/share to $17.14. In the past year, the shares have traded as low as $14.39 and as high as $18.53. On average, 2710190 shares of NWSA exchange hands on a given day and today's volume is recorded at 1908901.
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