The Successful Investor, in the March, 2015, issue, refreshes its buy of Transcontinental Inc., recently $16. The Investor said buy 18 times from January, 2004, to October, 2014, at prices ranging from $8.17 to $25. Assuming a $1,000 investment for each of the 18 buys, the $18,000 position is now worth $19,072. Transcontinental is narrowing its focus on its small newspapers and related websites. It recently agreed to sell its consumer magazine business, which publishes 15 English- and French-language publications, to TVA Group. As part of the deal, Transcontinental will keep printing the magazines, as well as other TVA publications, until the end of June, 2022. The $55.5-million deal is expected to close in the next few months. Meanwhile, Transcontinental had revenue of $2.07-billion in fiscal 2014 (ended Oct. 31, 2014), down from $2.1-billion in fiscal 2013, mainly because of lower advertisement spending. Despite this, earnings rose to $168.2-million or $2.16 a share from $148.3-million or $1.90 a share. This was mainly thanks to two recent acquisitions. Transcontinental will likely earn $2.21 a share in fiscal 2015, and currently trades at just 7.2 times that estimate. Its 64-cent dividend yields 4 per cent. Buy.