The Globe and Mail reports in its Friday, March 21, edition that Fairfax Financial Holdings ($473) is paying about $12.8-million to expand its interest in Torstar ($5.51). A Canadian Press dispatch to The Globe reports the move boosted Fairfax's holdings by 3.4 per cent to nearly 23 per cent. Fairfax says the purchase of an additional 2,385,000 Class B shares was made at $5.35 per share for investment purposes. Earlier this month, Torstar reported relatively steady fourth quarter profit of $20.6-million, compared with $21.1-million a year earlier. Total revenue was $366.5-million, down 7 per cent from $395.7-million a year earlier, although the media division's revenue was up from the third quarter. Fairfax chief executive officer Prem Watsa is known for taking risks, which have included betting against the United States housing bubble, which paid off when the market collapsed. He is also known for seeing value in companies that other investors miss. Last year, Fairfax stood behind BlackBerry with a $1-billion financing, further increasing its investment by another $250-million in January. Torstar's stock price has fallen dramatically from its all-time high of about $30 per share a decade ago.