|Bid||0.67 x 0|
|Ask||0.71 x 0|
|Day's Range||0.69 - 0.69|
|52 Week Range||0.53 - 0.84|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Jul.02 -- Fairfax Media pulled out of a process to examine selling the Sydney-based publisher after TPG Capital said it was withdrawing its offer, leaving U.S. private equity firm Hellman & Friedman LLC as the potential sole bidder. Bloomberg's Brett Foley reports on "Bloomberg Daybreak: Australia."
Fairfax Media Limited (ASX:FXJ) is trading with a trailing P/E of 25.9x, which is higher than the industry average of 17.4x. While FXJ might seem like a stock to avoidRead More...
Australia's Fairfax Media Ltd swung to an annual net profit on the back of deep cost cuts and a robust performance from its online property classifieds business, but advertising revenue declined sharply across its newspapers. The pressure on Australia's media power houses was also evident at Seven West Media, which logged a A$744 million ($582 million) annual net loss on Wednesday after booking a slew of impairments. Traditional media companies have been struggling to adapt as consumers seek out free online alternatives and advertisers concentrate their spending on rivals like Facebook Inc and Google Inc.
U.S. private equity giant KKR & Co LP moved to bolster its presence in Australia's lucrative mortgage market on Wednesday, joining a rush of players hungry for a slice of a property boom even as the sector shows early signs of slowing. KKR Credit Advisors LLC made a $500 million bid for non-bank lender Pepper Group Ltd at an indicative price of A$3.60 per share, a 4 percent discount to Tuesday's close.
Australian newspaper publisher Fairfax Media Ltd said two private equity firms withdrew from rival takeover bids worth up to A$2.9 billion ($2.2 billion), leaving it to proceed with demerger plans and sending its shares sharply lower. The country's oldest newspaper house, owner of The Sydney Morning Herald and The Australian Financial Review, was midway through spinning off its property listings unit when TPG Capital Management LP and Hellman & Friedman made buyout approaches in May.
San Francisco-based private equity firm Hellman & Friedman did not lodge a bid for Australia's Fairfax Media before a Friday deadline, a source with direct knowledge of the matter told Reuters. Fairfax, ...
Bosses of Australia's media companies, including an arm of Rupert Murdoch's News Corp , have formed an unprecedented front to lobby for changes they say will allow more consolidation and help them compete with internet giants. This week, in a show of unity, chief executives of companies from radio broadcasters to newspaper publishers joined Prime Minister Malcolm Turnbull in Canberra, in a last-ditch effort to swing the upper house, controlled by recalcitrant independent lawmakers. Like rivals globally, Australia's media companies have been squeezed by new arrivals and digital advertising.
U.S. buyout firm TPG Capital Management on Friday said it would make a commitment to editorial independence if it succeeds in its A$2.76 billion ($2.05 billion) offer for Australia's oldest newspaper publisher, Fairfax Media Ltd. The proposed deal remains subject to foreign investment approvals and some politicians have said conditions could need to be placed on the transaction to ensure the ongoing publication of mastheads like The Sydney Morning Herald and The Australian Financial Review.
Australia's oldest newspaper publisher Fairfax Media Ltd on Thursday said it has received a takeover bid worth as much as A$2.87 billion ($2.13 billion) from a second U.S. private equity firm, sending its shares sharply higher.
Australian newspaper publisher Fairfax Media Ltd on Thursday said it would grant due diligence access to two rival private equity bidders after U.S. buyout firm Hellman & Friedman made a surprise takeover proposal of as much as A$2.87 billion ($2.13 billion). The non-binding cash offer from Hellman & Friedman values Fairfax at A$1.225 to A$1.25 a share, compared to an earlier offer from TPG Capital Management and Ontario Teachers' Pension Plan Board of A$1.20 a share, the Australian company said. "We have carefully considered the indicative proposals and believe it is in the best interests of shareholders to grant both parties due diligence to explore whether a potential whole of company proposal is available," Fairfax Chairman Nick Falloon said in a statement.
U.S. buyout firm TPG Capital Management on Monday raised its cash bid for Fairfax Media Ltd , offering A$2.76 billion ($2.04 billion) for the struggling Australian publisher and sending its shares to a six-year high. The fresh offer from TPG and partner Ontario Teachers' Pension Plan Board (OTPP) would allow shareholders to cash out completely rather than leaving them with scrip in a piecemeal collection of small assets including radio, regional newspapers and television streaming.
A group including TPG Capital revised its bid for Fairfax Media Ltd. to an all-cash offer of A$2.8 billion ($2 billion), ditching a proposal that sought to cherry-pick only the publisher’s prized assets. ...
Australian newspaper publisher Fairfax Media Ltd on Monday said it has received a revised A$2.76 billion ($2.04 billion) cash offer led by U.S. private equity firm TPG Capital Management for all of the company. The offer from TPG and the Ontario Teachers' Pension Plan Board (OTPP) values Fairfax at A$1.20 a share, and compares with a previous proposal to buy the company's top mastheads, including The Sydney Morning Herald and The Australian Financial Review, and its property listings unit Domain for A$0.95 a share. The TPG consortium valued those assets at A$0.25 to A$0.30 a share, but Evans & Partners analysts said that was "optimistic".