Canadian media conglomerate Torstar Corp., based in Toronto, has sold Troll Communications, its children’s’ books direct marketing operation which lost $100 million Canadian last year, to Chicago-based investment firm Willis Stein & Partners, L.P. for U.S. $70 million.
The transaction is expected to close by the end of the first quarter.
Troll will be accounted for as a discontinued operation in Torstar’s 1998 annual results.
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