Torstar launches tablet edition

Article Excerpt

TORSTAR $4.22 (Toronto symbol TS.B; Shares outstanding: 79.9 million; Market cap: $334.7 million; TSINetwork Rating: Average; Dividend yield: 12.7%; www.torstar.com) has launched a digital version of The Toronto Star, its flagship newspaper, for tablet computers. In addition to newspaper content, this free app, called Star Touch, gives users quick access to related information, such as photos, maps and videos. iPad users can download Star Touch now. Torstar will launch an Android version later this year. The company licensed this technology from the publisher of Montreal’s La Presse newspaper. Based on La Presse’s experience, the app should help Torstar attract younger readers and sell more online ads. The success of its own app has also prompted La Presse to stop publishing a print version on weekdays; it will continue to print a Saturday edition. In all, Torstar spent $13 million to $15 million to set up this project, and maintaining and updating it will cost a further $8 million to $9…