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Article: AUSTRALIA'S JOHN FAIRFAX AND RURAL PRESS DENY MERGER RUMOURS.
- Article from:
- AsiaPulse News
- Article date:
- September 16, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. 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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SYDNEY, Sept 16 Asia Pulse - John Fairfax Holdings Ltd (ASX:FXJ) and Rural Press Ltd today rushed to dampen speculation about a possible $A3 billion ($US1.65 billion) merger, after reports emerged of serious discussions between the two media groups.
Both companies flatly denied any formal plans to join their businesses, despite a newspaper report saying a merger proposal was under serious examination.
The denial came just weeks after Rural Press chairman and majority shareholder John B Fairfax said he was hunting for acquisition and merger opportunities with other media players, encouraged by his company more than doubling its net profit to $A53.7 ...