Fairfax punts $625m on Kiwi website.

Australasian Business Intelligence, March, 2006

Byline: John Lehmann

Mar 06, 2006 (The Australian - ABIX via COMTEX) -- Australian newspaper publisher, John Fairfax Holdings, has acquired a New Zealand auction website. Fairfax has paid $NZ700 million ($A625 million) for Trade Me. This site accounts for 60 per cent of internet traffic in New Zealand. Fairfax has posted a net

profit of $A119.9 million for the first half of 2005-06, a fall of 4.6 per cent. Its publishing business had EBITDA of $A159.9 million, a decline of 3.2 per cent, but Fairfax Digital had revenues of $A42.6 million, a rise of 66.6 per cent. Fairfax shares fell by $A0.04 to $A3.90 on 6 March 2006.

Publication Date: 7 March 2006

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