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Fairfax Media
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Fairfax Media Limited, is one of Australia's largest diversified media companies. The group's operations include newspapers, magazines, radios and digital media operating in Australia and New Zealand. Fairfax Media was founded by the Fairfax family as John Fairfax Holdings but they lost control of the company on 11 December 1990. The group's Chairman is Ron Walker and the Chief Executive Officer is Brian McCarthy.
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Encyclopedia
Fairfax Media Limited, is one of Australia's largest diversified media companies. The group's operations include newspapers, magazines, radios and digital media operating in Australia and New Zealand. Fairfax Media was founded by the Fairfax family as John Fairfax Holdings but they lost control of the company on 11 December 1990. The group's Chairman is Ron Walker and the Chief Executive Officer is Brian McCarthy. As of May 2008 Fairfax Media had a market capitalisation of over $5 billion.
History
In 1987 Warwick Fairfax controversially bought out his family's holdings in the company. He successfully took it over but on December 10, 1990 the company collapsed and a receiver was appointed.
In April 2003, Fairfax acquired New Zealand's Independent Newspapers Limited (INL), owners of many of New Zealand's highest-profile newspapers.
In February 2004, a proposal was put to the board of Telstra to buy John Fairfax Holdings. This proposal was not supported by the board. This proposal was known as "Project Patrick", and if successful would have seen the Australian government become the majority owner of one of Australia's largest sources of news.
In July 2005, Fairfax acquired the dating site for A$38M.
In August 2005, Fairfax's general classifieds site created in March 2004, consistently exceeded 500,000 Unique Visitors a month.
In December 2005, Fairfax acquired for A$12M.
In August 2005, Fairfax ended its 16 month search for a new Chief Executive Officer with David Kirk, a former Rugby Union World Cup winning captain of the New Zealand All Blacks being appointed to replace departing CEO Fred Hilmer. David Kirk gets the nod ahead of Fairfax COO Brian Evans (former head of Fairfax New Zealand) and Doug Flynn, who took the top job at UK Pest control company Rentokil after negotiations with Fairfax broke off.
In March 2006, Fairfax acquired New Zealand auction website for NZ$700M.
On 4 March 2006, it was announced that Fairfax would purchase The Border Mail newspaper in Albury-Wodonga for $162 million.
In October 2006 speculation began that the company would be bought out and split up began to grow after the passage of changes to Australian media laws. Rival media company News Corporation purchased a 7.5% stake in the company at this time, with the stated aim of keeping Fairfax in one piece.
On 7 December 2006, John Fairfax Holdings and Rural Press announced the beginning of their merger proceedings. If this merger is successful, it will form a publishing company worth AU$9 billion dollars. A merger would mean Fairfax regaining control of The Canberra Times (which it owned in the 1980s), and through John B. Fairfax of Rural Press, would see the return of the Fairfax family to the company board. The company would also gain a number of other regional newspapers, radio stations and websites; plus agricultural publications in various countries.
On 12 January 2007, John Fairfax Holdings changed its name to Fairfax Media.
On 7 March 2007, Fairfax Media announced a new website for Brisbane, called the . The website will initially employ 14 journalists and is an attempt by Fairfax to break into the South East Queensland market.
On 20 March 2007 Fairfax Media launched a new business website. BusinessDay.com.au aggregates feeds from the other news vehicles in the Fairfax stable as well as "from the world's most respected news sources". It features breaking news updated "every 15 minutes".
In 2007 Fairfax Media bought the radio assets of Southern Cross Broadcasting. Macquarie Media Group purchased Southern Cross for AU$1.35 billion and onsold these assets to the Fairfax Group.
On 26 August, Fairfax Media CEO David Kirk and Deputy CEO Brian McCarthy announced that 550 staff would be cut as part of a business improvement programme. The staff reductions would take place in both Australia and New Zealand, with the latter country bearing the brunts of the cuts, with 160 full-time employees losing their jobs.
On 5 December, Fairfax Media CEO David Kirk publically tendedered his resignation and on 10 December Brian McCarthy (former Rural Press CEO) was appointed to the CEO role.
A new campaign, , was launched by the MEAA in protest to the cuts arguing that the jobs losses will affect "quality journalism".
Properties
Australia
Australian newspapers
Fairfax publishes the second most circulated daily papers in both Sydney and Melbourne, The Sydney Morning Herald and The Age respectively. It also publishes a daily business tabloid, The Australian Financial Review.
Fairfax also owns papers in major regional centres, including the Illawarra Mercury (Wollongong), the The Newcastle Herald (Newcastle), The Border Mail (Albury-Wodonga) and The Warrnambool Standard (Warrnambool). In addition, its subsidiary Fairfax Community Newspapers publishes 35 community newspapers serving suburban New South Wales and Victoria.
As a result of its Rural Press acquisition, Fairfax will take control of many newspapers including The Canberra Times and The Land.
Australian magazines
Fairfax publishes a number of magazines, such as the(sydney)magazine, theage(melbourne)magazine and Good Weekend, which are distributed with their newspapers. In addition, the company publishes business-centred magazines including BRW, AFR Smart Investor, AFR Magazine, AFR Boss, CFO Australia, MIS and Asset.
Australian digital
Fairfax owns a profitable Australian online subsidiary, Fairfax Digital which was once known as the F2 Network. The company's websites include the subject focused:
- News:
- Employment:
- Free Classifieds and Forums:
- Australian Holiday Accommodation:
- Cars:
- Real Estate:
- Personals:
- Finance:
- Business News
- Superannuation and Managed Funds:
- Personal Investment:
- Australian Rules Football:
- Rugby Union:
- Rugby League:
- Australian Towns:
- MyTalk:
Fairfax also publishes web editions of most of its newspaper titles, as well as South-East Queensland digital-only news site . Both The Age and SMH produce a limited amount of video content, which is only available online.
Rural Press owns a range of similar classifieds and local newspaper websites. It is expected that these will join Fairfax Digital, the classifieds ones merging with the appropriate Fairfax sites.
Australian radio
On 2007-11-07, Fairfax Media acquired the former radio assets of Southern Cross Broadcasting (on-sold from Macquarie Media Group's purchase of SCB): 2UE Sydney, 3AW and Magic 1278 Melbourne, 4BC and 4BH Brisbane, and 6PR and 96fm Perth. Graham Mott will continue in his role as general manager of the broadcast radio group under Fairfax. Mott indicated at the time of the acquisition that national syndication of programming (such as that of the since-retired John Laws) would largely be replaced on the network with more localised syndication at a state level.
Fairfax also acquired Satellite Music Australia (SMA) as part of the SCB deal, who provide music channels to retailers, as well as Foxtel and Austar (where it is branded AIR).
Fairfax Media also owns a number of stations in rural South Australia and Queensland, as part of its previous acquisition of Rural Press.
MyTalk Datacasting Channel on 5 November 2007, was officially purchased from Southern Cross Broadcasting.
Following this on 25 February 2008, MyTalk ceased broadcasting.
New Zealand
New Zealand newspapers
In New Zealand, its subsidiary Fairfax New Zealand Limited publishes a stable of papers formerly owned by Independent Newspapers Limited (INL), including The Dominion Post in Wellington, The Christchurch Press in Christchurch and The Sunday Star-Times in Auckland. Fairfax also own over 60 community newspapers.
New Zealand magazines
- AgTrader
- Central Districts Field Days
- Cuisine
- The Dairyman
- Horticulture News
- The Lifestyle Farmer
- New Zealand Grapegrower
- Straight Furrow
New Zealand digital
In NZ, Fairfax's websites form the stuff portal. Sites include:
- News:
- Employment:
- Property:
- Personals:
- Shopping:
Fairfax also owns the Cuisine website as part of its ownership of the magazine of the same name.
United States
Fairfax acquired a number of US agricultural publications from Rural Press on the 8th may 2007.
United States
- Farm Futures
- Rural Life Magazine
- American Agriculturist
- Michigan Farmer
- Southern Farmer
- California Farmer
- Mid-South Farmer
- The Farmer
- Carolina-Virginia Farmer
- Missouri Ruralist
- The Farmer-Stockman
- Dakota Farmer
- Nebraska Farmer
- Wallaces Farmer
- Indiana Prairie Farmer
- Ohio Farmer
- Western Farmer-Stockman
- Kansas Farmer
- Prairie Farmer
- Wisconsin Agriculturist
External links
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