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Article: John Fairfax Holdings (FXJ) $2.94.
- Article from:
- Australasian Business Intelligence
- Article date:
- April 28, 2003
CopyrightCOPYRIGHT 2003 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Apr 28, 2003 (Your Money Weekly - ABIX via COMTEX)
John Fairfax Holdings has announced a major acquisition. The Australian newspaper and magazine publisher is to buy the New Zealand publishing businesses of Independent Newspaper for just under $A1.1 billion. The assets being acquired under the transaction have recorded compound annual revenue growth of 3.6 per cent since 1993. They include two national newspapers, 13 magazines and 53 suburban community newspapers. It is expected that the assets being acquired for around 30 per cent of John Fairfax Holdings' revenue once the ...