Toronto Star co-proprietor Jordan Bitove says it’s too late to resolve the differences between him and business partner Paul Rivett as the pair engage in arbitration to determine who will own the newspaper and other holdings
Toronto Star co-proprietor Jordan Bitove said it’s too late to resolve the differences between him and business partner Paul Rivett, as the two engage in arbitration to determine who will ultimately own the newspaper, along with other assets.
He made the remarks during a panel discussion at Isabel Bader Theatre in Toronto Thursday evening, following the screening of a documentary about the Toronto Star. The film, Viral News, examines the newspaper’s coverage of the pandemic and features interviews with both of the owners before their public falling out.of NordStar Capital, a company in which they are equal partners, after Mr. Rivett went to court in September to request the firm be dissolved and its holdings split up between them.
The discussion, moderated by TVO’s Steve Paikin, was officially focused on the erudite question of whether democracy can survive amid the collapse of news media, an industry facing immense financial challenges. Mr. Rivett made those realities clear in the documentary when he references a cash burn rate of about $1-million per week.
After The Globe and Mail reported on the court filing, Mr. Bitove responded with a statement through communications firm Navigator Ltd., saying he believed in investing to grow the newspaper, while implying his partner’s preference is to “cut costs to the bone.”
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