Markets

Farfax shares hit a high as a new takeover offer arrives

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 […]
Farfax shares hit a high as a new takeover offer arrives
News

Fairfax journalists go on strike for a week over editorial job cuts

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 […]
Fairfax journalists go on strike for a week over editorial job cuts
Markets

Real estate business Domain could be worth $2 billion in a float

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 […]
Real estate business Domain could be worth $2 billion in a float
Markets

Fairfax is about to make an announcement on Domain

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 is about to make an announcement on Domain
Markets

Fairfax will print its newspapers daily ‘for some years yet’

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 […]
Fairfax will print its newspapers daily ‘for some years yet’
Markets

Online property listings shrink in Sydney and Melbourne

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 […]
Online property listings shrink in Sydney and Melbourne
Markets

Fairfax Media shares fall on weak sales

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 […]
Fairfax Media shares fall on weak sales
Markets

Credit Suisse values Stan at up to $600 million

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 […]
Credit Suisse values Stan at up to $600 million
Markets

A massive New Zealand media business emerges from APN and Fairfax

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 […]
A massive New Zealand media business emerges from APN and Fairfax
Markets

Fairfax dumps $1 billion in value from its newspapers

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 […]
Fairfax dumps $1 billion in value from its newspapers
Markets

APN and Fairfax want to create a massive New Zealand media business

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, […]
APN and Fairfax want to create a massive New Zealand media business
Markets

Local Netflix competitor Stan is heading to profit

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 […]
Local Netflix competitor Stan is heading to profit
News

One of Sydney’s original farmers markets is closing down

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 […]
One of Sydney’s original farmers markets is closing down
Tech

Fairfax is doubling down on ‘local’ social networks

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 […]
Fairfax is doubling down on ‘local’ social networks