Fairfax Media


Fairfax Media

Infobox_Company
company_name = Fairfax Media Limited
company_
company_type = Public (ASX - [http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=FXJ&companyName=&principalActivity=&industryGroup=NO FXJ] )
foundation = flagicon|AUS Sydney, Australia
location = flagicon|AUS Sydney, Australia
key_people = David Kirk CEO Ron Walker Chairman
industry = Media
products = Newspapers
Radio
Magazines
Internet
revenue = AUD$1.9 billion (2005)
num_employees = 7,200 (2004)
homepage = [http://www.fxj.com.au/ www.fxj.com.au]

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 December 11, 1990. The group's Chairman is Ron Walker and the Chief Executive Officer is David Kirk. As of May 2008 Fairfax Media had a market capitalisation of over $5 billion [cite web |url=http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?capId=30402|title=Fairfax Media Ltd. (FXJ): Stock Quote & Company Profile|publisher=BusinessWeek|accessdate=2008-05-27] .

History

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 [http://www.rsvp.com.au/ RSVP] dating site for A$38M.

In August 2005, Fairfax's general classifieds site created in March 2004, [http://cracker.com.au/ Cracker.com.au] consistently exceeded 500,000 Unique Visitors a month.

In December 2005, Fairfax acquired [http://www.stayz.com.au/ Stayz.com.au] 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 [http://www.trademe.co.nz/ Trademe.co.nz] for NZ$700M.

On 4th 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 7th 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 12th January 2007, John Fairfax Holdings changed its name to Fairfax Media. [cite web |url=http://www.asx.com.au/asx/statistics/getAnnPdf('/asx/statistics/showAnnouncementPDF.do?idsID=',%20'00684874',%20'Announcement');return%20false; |publisher=Fairfax |title=Fairfax Name Change |date=2007-01-12 |accessdate=2007-03-24]

On 7th March 2007, Fairfax Media announced a new website for Brisbane, called the [http://www.brisbanetimes.com.au/ Brisbane Times] . The website will initially employ 14 journalists and is an attempt by Fairfax to break into the South East Queensland market.

On 20th 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 Souther Cross for AU$1.35 billion and onsold these assets to the Fairfax Group. [ cite web
url = http://www.abc.net.au/news/stories/2007/07/03/1968580.htm
title = Southern Cross Broadcasting sold for $1.35b
accessdate = 2007-06-03
date = 2007-06-03
publisher = abc.net.au
]

On August 26, 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. [ cite web
url = http://www.theaustralian.news.com.au/story/0,25197,24243142-13480,00.html
title = Fairfax email to staff about job cuts
accessdate = 2008-08-26
publisher = theaustralian.com.au
]

A new campaign, [http://www.fairgofairfax.org.au/ Fair Go, Fairfax: Don't discount journalism] , 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: [http://newsbreak.com.au/ Newsbreak]
*Employment: [http://mycareer.com.au/ My Career]
*Free Classifieds and Forums: [http://cracker.com.au/ Cracker.com.au]
*Australian Holiday Accommodation: [http://www.stayz.com.au/ Stayz.com.au]
*Cars: [http://www.drive.com.au/ Drive]
*Real Estate: [http://www.domain.com.au/ Domain]
*Personals: [http://www.rsvp.com.au/ RSVP]
*Finance: [http://tradingroom.com.au/ Trading Room]
*Business News [http://www.businessday.com.au/ Business Day]
*Superannuation and Managed Funds: [http://www.investsmart.com.au/ InvestSmart]
*Personal Investment: [http://moneymanager.com.au/ Money Manager]
*Australian Rules Football: [http://www.realfooty.theage.com.au/ Realfooty]
*Rugby Union: [http://www.rugbyheaven.smh.com.au/ Rugbyheaven]
*Rugby League: [http://www.leaguehq.com.au League HQ]
*Australian Towns: [http://walkabout.com.au/ Walkabout]
*MyTalk: [http://www.mytalk.com.au/Pages/default.aspx/ Fairfax Radio Network]

Fairfax also publishes web editions of most of its newspaper titles, as well as South-East Queensland digital-only news site [http://www.brisbanetimes.com.au/ Brisbane Times] . 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. [Tabakoff, N. (2007-11-07). [http://www.theaustralian.news.com.au/story/0,25197,22716245-7582,00.html Fairfax to axe syndicated programs] . Accessed on 2007-11-12.]

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 [Australian Music Online (2004). [http://www.amo.org.au/interview.asp?id=984 Interview: Colin Fraser] . Accessed on 2007-11-12.] (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. [ [http://www.ruralpress.com/ Rural Press Limited] home page. Accessed on 2007-11-12.]

MyTalk Datacasting Channel on November 5, 2007, was officially purchased from Southern Cross Broadcasting.
cite web
url = http://www.theaustralian.news.com.au/story/0,25197,22708729-30540,00.html
title = Southern Cross falls to Mac and Fairfax
accessdate = 2007-06-03
date = 2007-06-03
publisher = The Australian
] Following this on February 25, 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" [ [http://www.ruralpress.com/publications/detail_nz.asp Rural Press : Corporate ] ]
*"Straight Furrow"

New Zealand digital

In NZ, Fairfax's websites form the stuff portal. Sites include:
*News: [http://stuff.co.nz/ stuff]
*Employment: [http://jobstuff.co.nz/ jobstuff]
*Property: [http://propertystuff.co.nz/ propertystuff]
*Personals: [http://www.personalstuff.co.nz/ personalstuff]
*Shopping: [http://stuffonsale.co.nz/ stuff on sale]

Fairfax also owns the "Cuisine" website as part of its ownership of the magazine of the same name. [http://www.cuisine.co.nz]

United States

Fairfax acquired a number of US agricultural publications from Rural Press on the 8th may 2007.

United States

[ [http://www.farmprogress.com/ME2/default.asp ,.] ]
*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

References

External links

* [http://www.fxj.com.au/ Corporate site]
* [http://media.fairfax.com.au Fairfax video]
* [http://www.fairfaxnz.co.nz/ New Zealand corporate site]
* [http://www.fairfax.com.au/ Australian portal]
* [http://www.stuff.co.nz/ New Zealand portal]
* [http://www.rsvp.com.au/ RSVP]


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