Annex Business Media is acquiring Toronto’s free evening newspaper — called tonight — and reducing publishing from five days a week to Thursdays.

John Cameron, publisher of tonight, said more resources will go toward tonight’s website and mobile apps. Cutting back the number of print days mirrors strategies taken by publications in the U.S., such as New Orleans’ Times-Picayune, said Cameron.

The Times-Picayune went from publishing every day to three times a week to counter rapidly falling print ad revenues.

Toronto’s evening paper will maintain its partnerships with Sportsnet, Financial Post and blogTO, said Cameron, and the paper’s content will be largely the same, with more features and lifestyle stories.

Cameron said online readership has increased since other Toronto media outlets, such as the Globe and Mail, introduced pay walls.

“The new owner saw a big opportunity from some of that data they were privy to,” said Cameron.

The print run will remain the same, with just more than 100,000 copies getting distributed.

Annex, which specializes in short-medium run sheet-fed magazines, was previously a minority shareholder of tonight.