Fairfax Financial Holdings Ltd. has paid nearly $11.8 million to increase its holding of Torstar Corp.'s non-voting shares to 40.6 per cent. The Toronto-based financial company now owns about 28.9 million class B shares of Torstar, owner of the Toronto Star, the Metroland group of newspapers and other digital and print media businesses. Fairfax says it paid $1.25 each for the 9.4 million class B shares. Fairfax says it acquired the class B shares for investment purposes but, in future, it may discuss transactions with management or the company's board of directors. In the wake of news of Fairfax's acquisition, Torstar shares rose 10 cents on Friday to close at $1.40 on the TSX.

Source: CBC News November 10, 2017 16:07 UTC