In a move aimed at diversifying its digital presence, Torstar Corp. (TSX: TS.B), publisher of The Toronto Star newspaper, is acquiring iPolitics, a website focused exclusively on political news.
The deal closes on October 1, Torstar announced in a written media statement. Torstar said it plans to use Ottawa-based iPolitics to both expand The Toronto Star’s coverage of federal politics while also maintaining the separate subscription-based website iPolitics.ca.
Torstar Chief Executive Officer John Boynton said that "This unique opportunity will allow us to provide critical in-depth policy coverage from iPolitics along with the highly recognized reporting and opinion columns from the Star's Ottawa team."
Torstar added that iPolitics and The Toronto Star will maintain separate Ottawa bureaus for the time being.
Founded in 2010, iPolitics runs a network of subscription-based digital and social media platforms, daily political news, a quarterly magazine, podcasts and parliamentary monitoring services. Torstar said the deal includes all assets of iPolitics but did not state the sale price.
Torstar already runs a political focused website called "QP Briefing", which is subscription-based and focused on Ontario politics.
