The owner of the Toronto Star newspaper says it plans to buy a digital beauty and wellness magazine in an effort that will help it attract more advertisers looking to sell products to Canadian women.
Torstar Corp. said the deal to acquire The Kit is still subject to negotiation, and did not reveal a purchase amount.
The Kit is a multimedia online magazine geared at women that provides videos, photo slide shows and e-mail newsletters in addition to print articles.
The Kit will continue to publish digitally but will also be adding a print edition.
Torstar owns numerous media properties, including the lucrative Harlequin romance books label.
“Readers and advertisers will benefit immediately from the planned union of one of Canada’s most established media companies with one of the country’s youngest and most dynamic media brands in the beauty category,” Edward Greenspon, vice president of business development for the Toronto Star said in a statement.
Torstar owns the Toronto Star, Canada’s largest daily newspaper, the Metro free daily newspaper chain, and digital properties like Thestar.com, Toronto.com, Workopolis, Olive Media, and EyeReturn Marketing.
