Business Services Industry
John B Fairfax to fight any sell-off, break-up.
Australasian Business Intelligence, December, 2006
Byline: Stuart Washington and Lisa Murray
Dec 07, 2006 (The West Australian - ABIX via COMTEX) -- Australian media groups John Fairfax Holdings and Rural Press are to merge, making the latter's John B Fairfax a major stockholder in the combined entity. He has signalled his opposition to any future plans to hive off parts of the company his family founded, and will use the stake held by his private Marinya Media to block such moves. There is also speculation that private equity firms could launch a takeover of the entire business, which is set to be worth around $A7bn. John B Fairfax had decided against taking Rural Press private, as the costs of such a strategy for Marinya would have been significant. The reduced chance of a takeover now occurring affected...
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