Newspaper & Mailroom

Torstar Announces Receipt of Proceeds Related to The Globe and Mail

Wednesday 05. January 2011 - Torstar (TSX:TS.B) announced that it has received $40 million in connection with the previously announced acquisition by The Woodbridge Company Limited of a direct interest in The Globe and Mail. Following completion of the transaction, The Woodbridge Company Limited owns 85% of The Globe and Mail and BCE Inc. owns 15%. The transaction was completed on December 31, 2010.

The sale of Torstar’s 20% interest in CTVglobemedia Inc. remains subject to customary approvals and closing conditions, including approval by the Canadian Radio-television and Telecommunications Commission, and is expected to close by mid 2011.