Toronto Star owners are feuding and hefty job cuts could be on the line Toronto TorontoStar
"There is a complete deadlock between Rivett and Bitove...they can no longer work together," the application reads.
Rivett's proposed solution for the deadlock is for the company to be sold under a court order, where the two sides have a chance to bid for NordStar's assests. If neither party is interested, the application proposes to sell it in a public auction. And uncertainty for numerous local daily & weekly newspapers, under Metroland. This could be devastating for so many employees.Rivett's application says that NordStar is in breach of a debt agreement, and while he wants to sell some of the company's real estate to pay it off, Bitove is refusing.
My reading is that one of Torstar's owners is suing the other because he refused to make certain cuts and then things spun out from there:
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