RE:TORSTAR burning Equity to pay operating lossWell, if this ship tanks, we're in good company. ;0)
Per news release dated Nov 10, 2017:
On November 9, 2017, Fairfax acquired, through the investment portfolios of certain of its insurance subsidiaries, a total of 9,437,287 Class B Shares by way of a private share purchase agreement transaction (and not through the facilities of the TSX), representing approximately 13.3% of the issued and outstanding Class B Shares (the “Purchase”) at a price of CDN$1.25 per Class B Share.
... as a result of which Fairfax now beneficially owns, and has control or direction over, 40.6% of the outstanding Class B Shares.
Prior to the transactions referenced above, Fairfax beneficially owned, and exercised control or direction over, 19,439,050 Class B Shares, representing approximately 27.5% of the outstanding Class B Shares. As a result of the transaction, Fairfax now beneficially owns, and exercises control or direction over, 28,876,337 Class B Shares, representing approximately 40.6% of the issued and outstanding Class B Shares.