Media chief looks to US for insight
Sep 15, 2013 (The Australian Financial Review - ABIX via COMTEX) --
Possible institutional investors in the US in Australian-listed Fairfax Media have been briefed by CEO Greg Hywood. He reports that there is increasing interest in stocks like Fairfax that are currently trading at bargain prices. The Domain internet real estate classifieds off-shoot is also a potential target. Hywood will now hold talks with US media sector executives on how to deal with the impact on traditional newspapers by the internet. The company's stock has declined from all-time high $A6.10 in 2001 to a close of just $A0.58 on 13 September 2013, although it fell as low as $A0.36 in October 2012.
Publication Date: 16 September 2013
FAIRFAX MEDIA LIMITED - ASX FXJ
BANK OF AMERICA CORPORATION
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