Shares in Fairfax Media, now subject to two takeover bids from private equity groups, jumped in early trade. A short time ago, they were up 6.6% to $1.237 in a falling market. The latest bid is an all cash play from San Francisco-based private equity group Hellman and Friedman at […]
US private equity giant TPG has changed its bid for Fairfax Media to $2.76 billion, all in cash. Fairfax says it has received a revised bid of $1.20 per share. Its shares on Friday closed at $1.07. In early trade today, Fairfax shares rose 7% to $1.147. Previously the joint […]
Fairfax Media is in play. US-based private equity group TPG and the Ontario Teachers’ Pension Plan Board have made a joint bid to acquire Fairfax for a combination of $2.18 billion in cash plus shares. Some of Fairfax’s most visible assets, including the major newspapers of the Sydney Morning Herald, […]
Fairfax Media editorial staff in Sydney and Melbourne voted to strike for a week after the company announced the loss of 125 jobs in a $30 million cost cutting exercise. The journalist positions represent about 25% of editorial staff at the Sydney Morning Herald, The Age and the Australian Financial […]
The merger of Fairfax’s New Zealand titles, including the newspaper the Dominion Post with the New Zealand Herald business, has been blocked by authorities. The New Zealand Commerce Commission has declined authorisation to the proposed merger of APN’s NZME and Fairfax New Zealand Limited which would have created a media […]
Fairfax Media is expected to announce plans for a separate ASX listing of its property classified business Domain. The company’s shares today went into a trading halt today ahead of the announcement of half-year profit results tomorrow. Fairfax is expected to float off the fast-growing Domain as a way of […]
Fairfax Media shares have gone into a trading halt amid reports that it’s about to spin off its profitable Domain property classified site. “The media giant is seriously considering spinning off Domain into a separately listed vehicle to be run by current Domain boss Antony Catalano,” says the Fairfax-owned Australian […]
Fairfax Media, which had been expected to switch its Monday to Friday newspaper printing to digital only, has given its hard copy mastheads an extended life as daily publications. CEO Greg Hywood today announced the appointment of Chris Janz, a veteran of digital publications, as managing director of Australian Metro […]
Property owners, having been spooked by the federal election, are holding off putting their homes on the market. The REA Group, the owner of realestate.com.au, today reported weak listings in the Sydney and Melbourne property markets. The company, 62% owned by NewsCorp, posted a 16% rise in revenue to $170 […]
Fairfax Media shares fell hard after the company’s AGM was told that sales are down. A short time ago, the shares were down 8.6% to $0.74. Overall group revenue so far for the 2017 financial year is 6% to 7% below last year. This is slightly ahead of the company’s […]
The value of Stan, the online streaming media startup, has already covered the initial investment by Fairfax Media and the Nine Network may times over, even before the business has made a profit. Stan, now Australia’s second biggest player behind US giant Netflix, could be worth as much as $600 […]
NZME Limited, the former APN newspaper business in New Zealand, and Australia’s Fairfax Media have formally signed an agreement to merge their assets in there. The two have been exclusive talks since May. The deal still needs approval from the New Zealand Commerce Commission, but NZME has agreed to acquire […]
Fairfax Media plans to book a $989 million pre-tax impairment on its publishing assets. A short time ago, Fairfax shares were down 1.4% to $1.035. The non-cash writedowns follow a review and will be reported next week when announcing the company’s full-year 2016 results. The impairment charges include: $484.9 million […]
A dominant newspaper, radio and digital media business would be created in New Zealand by a merger between APN’s NZME and Fairfax’s New Zealand assets. The companies are in exclusive talks to merge the businesses, which include the two biggest daily newspapers, the New Zealand Herald and the Dominion Post, […]
Fairfax Media has bought a strategic stake in Oneflare, an online digital marketplace for local trade services and a competitor to hipages in which News Corp has a significant stake. The media group’s Domain real estate online classifieds business paid $15 million for a 35% interest in Oneflare, which was […]
Stan, a local competitor to the US streaming media giant Netflix, is on track to make a profit. Greg Hywood, CEO of Fairfax Media which has half the subscription video on demand (SVOD) business with the Nine network, says Stan is expected to reach cash flow break even during the […]
The monthly Sydney Morning Herald Growers Market will close in April after 18 years. Fairfax Media wrote to stallholders yesterday announcing that just two markets remain before the curtain comes down on the popular Saturday morning gathering in Pyrmont opposite The Star casino. The penultimate March 5 market is the […]
Fairfax media has acquired 25% of “local social network” Nabo, joining major shareholders Seven West Media and the Westpac-backed Reinventure Group. The concept allows the creation of a community social network, which can act as a noticeboard, or link community groups, such as a council and neighbourhood watch. Fairfax had […]
A new business.
Domain real estate listings are on a tear.
Starts in August.
A bigger network.
Expenses cut by 4%.
Unhappy with management.
Alan Jones and Ray Hadley go with the new network.
New tv series will be available.
Domain is up 21%.
Better Call Saul.
One big media company.
The four-letter brand and exclusive content rights in Australia.
Now 17% of total group revenue.
Publisher has slimmed to a fighting weight.
$1.67 Billion market cap.
$80 million in the bank.
End of an era.