Business Services Industry
Newspaper business is here for the long haul, says Fairfax chief.
Australasian Business Intelligence, September, 2006
Byline: Lisa Murray
Sep 03, 2006 (The Age - ABIX via COMTEX) -- The CEO of Australian newspaper publisher John Fairfax Holdings, David Kirk, has rejected claims newspapers will become an extinct medium by 2043. Kirk said newspapers will continue to adapt to their chancing audience, sustaining them over the long-term. Fairfax recently reported a 4% fall in underlying profit to $A228m, with revenue growth of only 2% to $A1.9bn. Declining advertising in "The Sydney Morning Herald" and "The Age" was a major factor in the result. Conversely, Fairfax Digital recorded a 75.6% increase in revenue to $A96.4m, as the internet became more attractive to advertisers.
Publication Date: 4 September 2006
JOHN FAIRFAX HOLDINGS LIMITED - ASX FXJ...
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