Tag: fairfax
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TPG makes new bid for Fairfax with $2.7 billion cash offer
A consortium affiliated with TPG Private Equity group has raised its initial offer to acquire Fairfax media after a market share rise. The offer values Fairfax at around $2.75 billion and is a 12% rise on the company’s closing share price of $1.07 last week. In early trade today, Fairfax shares rose 7% to $1.147, which represents an increase…
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Fairfax is cutting $30 million from newsrooms
Capital city newsrooms owned by Fairfax are suffering from restructuring changes as the company attempts to save $30 million per year. However, these costs are not staff related and will focus instead on editorial operations to get the savings that are needed. The media group is implementing changes through a ‘process of consultation’ across the Sydney Morning…