TORONTO—THIS STORY HAS BEEN UPDATED: Media company Torstar has acquired Performance Printing of Smiths Falls, ON.

Torstar is paying $22.5 million to buy the printer and its newspaper titles in Eastern Ontario communities. The transaction was made through Metroland, a subsidiary of Torstar.

But it's too early to tell what this acquisition means for Performance Printing's staff or printed assets, said Lorenzo DeMarchi, Torstar's executive vice president and chief financial officer. "They're really just in transition now, there's transition teams on both sides working together," he said.

DeMarchi noted Metroland is looking to roll out "new digital offerings" into the new market to serve a broader advertising audience.

Performance Group of Companies publishes the EMC family of newspapers, serving 27 communities including Brockville/St. Lawrence, Perth, Smiths Falls, Almonte, and Carleton Place, according to Performance Group's website.

Stay tuned for more information on this deal.