RE:Vertical Scope valueVerticalScope has value - it just never made sense as a Torstar investment. Why you would double down in a business entirely dependent on advertising revenues when your core business is in freefall is the definition of insanity. At the same time, you tie up a couple of hundred million dollars, get no cash return while again your core business has negative cash flow and don't control the business beyond owning 56.4%.
The lack of organic growth is disturbing and the strategy of buying more businesses with debt to show some growth is a borderline scam. These strategies never end well when you count on the next biggest sucker to bail you out of your stupid decisions.
The New York Times is doing well because they have a coherent strategy, competent management, and owners that are grounded in the realities of the 21st century.
We are coming up on mid-year results in August. If all the CEO can point to is a paywall on The Star and the mythical transformation strategy the pressure should be ratcheting up on Honderich and Boynton. The share price is heading in the right direction for the Voting Trust to snap out of its coma. Stay tuned.