Prem Watsa’s Fairfax Financial (FFH.TO) is boosting its stake in Torstar and leaving the door open to significant strategy discussions with management.

Fairfax announced late Thursday it acquired an additional 9.4 million Class B shares (TSb.TO) in the publisher of The Toronto Star, taking its stake to 40.6 per cent of the company’s outstanding B shares.

Watsa’s company said the shares were acquired for investment purposes, while adding that it in the future it could discuss a range of options with Torstar management and its board of directions, including mergers and changes in the boardroom.