Fairfax Media Ltd. Sells Regional Radio According to BAC Report11 Oct 2011 • by Natalie Aster
LONDON – Last week Fairfax Media Ltd announced its intention to sell one of its regional radios to Grant Broadcasters. In May 2011 Fairfax already told about the plans to diversificate metropolitan and regional radio assets to increase shareholders’ value.
Grant Broadcasters is a family business that evolved into one of the Australian major independent radio companies. It has been in business for over 70 years, and proved itself as an operator committed to its audience. Grant Broadcasters appears to be a prospective purchaser for Fairfax.
4BU & Hitz FM (Bundaberg), 5RM & Magic FM (the Riverland), 5CC & Magic FM (Port Lincoln), 5AU/5CS & Magic FM (Spencer Gulf) comprise Fairfax prime radio assets. The purchase is to have been issued by the end of October 2011.
Fairfax recent financial performance is uneven. Jun 30 2011 showed a large decrease in revenue and net income – the numbers fell by 10% and 427% respectively. Net income ended up below zero and amounted to AUD (563.2) M. this situation directly reflects last four years trend, with constant fluctuations in operating and net incomes. While in 2008 and 2010 they go far up above zero point, in 2009 and 2011 these numbers fall to about minus AUD 400 million. Revenue also brings up a decline comparing to 2008. FY 2011 ended Mar 31 2011 indicate revenue and net income equaling AUD 2476.5 M and AUD (390.9) M respectively. This is a 15.6% and 201% decrease comparing to FY 2008 ended Mar 31 2008.
Founded in 1841 and headquartered in Pyrmont (Australia), Fairfax Media Ltd engages in media business, publishing metropolitan and regional newspapers and magazines, running metropolitan and regional radio stations, managing various web-sites. Its main regional markets are Australia, New Zealand, and USA.
Full list of the company’s activities, risk factors, business possibilities and financials can be found in the report “Fairfax Media Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Fairfax Media Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Sep, 2011
General information about Australia Media Industry and its competitive forces can be found in the report “Australia Media Industry Comparative Analysis and Companies Ranking”
More company reports featuring SWOT and financial information, industry and competitors analysis can be found in Company Reports Catalog.
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