Torstar says Scoop launch cost $1 million

Information released at the annual general meeting of Torstar Corporation indicate the Weekly Scoop launch last fall, cost $1 million and Torstar executives were quoted yesterday saying they expect the losses to be in excess of $3-million this year, because of slower than anticipated ad sales and the cost of promotions such as the last week's sale of the magazine with a cover price of 25 cents instead of $2.99.