Print revenues, for example, were down 29 per cent

Digital advertising revenues fell to $11.6 million from $13.3 million.in the quarter continued to reflect ongoing challenges in the print advertising market and towards the end of the quarter, the emergence of the COVID 19 pandemic and the resulting government measures for social distancing and the closure of non essential businesses began to have a negative impact on advertising revenue, said John Boynton, Torstar CEO.Torstar repeatedly pointed to the impact COVID 19 is having on its business. Print revenues, for example, were down 29 per cent on a basis for the quarter but plunged 58 per cent in the latter half of March. Lorenzo DeMarchi, Torstar chief financial officer, said that the company saw a similar pattern in its flyer distribution business.

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