Fairfax shares jump on overhaul announcement
AUSTRALIA’S richest family is set to buy Fairfax Media, after a deal worth more than $1 billion collapsed due to political wrangling.
The Australian Financial Review confirmed on Monday night that a $1 billion (US$1.17 billion) deal has collapsed in Melbourne, as rival Fairfax Media moves in
.
The company will not announce a buyer soon but Fairfax shares soared more than 20 per cent on the news, rising from about $20.30 at 10.43pm local time.
US broadcaster Fox News announced earlier this month it was buying the publisher for $500 million.
Media mogul Rupert Murdoch’s news network has emerged as an industry leader, with the likes of The Wall Street Journal managing editor, Gerard Baker, also in the running.
Fairfax CEO Terry Eldridge said on Monday that Fairfax Media would continue to be profitable, despite “a very challenging economic environment in some markets around the world”.
“The board appreciates the continued s보성출장안마trong commitment and the trust the community has placed in us over the last number of years.”
Eldridge said the business was focused on its top priorities, such as delivering the most trusted news on Fairfax Media, its newspapers, the network of news and information programs and its online news service.
He also made the company transparent by sh세종출장마사지aring its share marXO 카지노ket capitalisation with the public, he told reporters at a news conference.
“Fairfax, with our shares up 5 per cent this morning, is an impressive piece of business, I’ve been fortunate enough to work here for many, many years now,” said Eldridge.
“That gives me great pleasure and confidence that the company is able to continue to do well, the company is a strong business and it’s going to continue to do well and, of course, be a powerful contributor to our economic growth.”
It would have required a majority purchase of the company from US businessman Jeff Karr and his sons, Jeff, 57, and 21-year-old son, Peter, both from the company’s board, but they will buy shares in a group in a private company, rather than directly.
Karr and his wife, Carol, a former Wall Street executive, are also in talks to sell the paper to the largest private media conglomerate in the world, with Murdoch saying in May that he would buy up to 50 per cent of Fairfax Media
.
Peter Karr, the father of Jeff and Rick Karr, o
Tags: 007 카지노 로얄 다시 보기, 바카라 양방 사무실, 카지노 뉴스, 캄보디아 카지노, 호텔 카지노