2002 Annual Report Our Year at a Glance
Torstar Corporation 2002 Annual Report Our Year at a Glance Financial Highlights 1 Message from the Chairman 2 To Our Shareholders 4 Newspapers Torstar Media Group 7 Toronto Star 8 Metroland 10 Regional Dailies 12 Harlequin Enterprises 15 Management’s Discussion and Analysis 19 Consolidated Financial Statements 28 Notes 32 Seven-Year Highlights 42 Corporate Information 43 he Annual Meeting of Shareholders will be held Wednesday, April 30, 2003 at the Metro Convention Centre, 255 Front Street West, Toronto, Room 206, beginning at 10 a.m. It will also be Webcast live on Ttmgtv.ca with interactive capabilities. Torstar Corporation is a broadly based-media company listed on the Toronto Stock Exchange (TS.B). Its businesses include daily newspapers led by the Toronto Star, Canada’s largest daily newspaper, The Hamilton Spectator, The Record (Kitchener, Cambridge and Waterloo), the Guelph Mercury, and their Internet-related businesses; Metroland Printing, Publishing & Distributing, publishers of approximately 70 community newspapers in Southern Ontario; and Harlequin Enterprises, a leading global publisher of women’s fiction. “The Board of Directors is extremely pleased that the baton of leadership has passed so smoothly and successfully.” John R. Evans Chairman, Board of Directors MESSAGE FROM THE CHAIRMAN n May 1, 2002, Robert Prichard assumed responsibility as Chief Executive Officer, having joined Torstar in May, 2001 as President of the Torstar Media Group. The Oseamless transition of leadership was made possible by the strong sense of shared stewardship with David Galloway, retiring CEO. It will come as no surprise to anyone who has worked with Robert Prichard that he has addressed his new responsibilities with unmatched energy and enthusiasm and demonstrated the steepest possible learning curve in gaining an appreciation of each of the businesses of Torstar.
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