Edition:
United States

Fairfax Media Ltd (FXJ.AX)

FXJ.AX on Australia Stock Exchange

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24 May 2017
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Latest Key Developments (Source: Significant Developments)

Fairfax Media updates on receiving interest from TPG and Ontario Teachers' Pension plan board
Sunday, 7 May 2017 06:15pm EDT 

May 8 (Reuters) - Fairfax Media Ltd ::On friday, 5 May 2017 received interest from a consortium including TPG Group (TPG) and Ontario Teachers' Pension plan board.Indication of interest to acquire Fairfax for a combination of cash and Scrip consideration in a newly listed vehicle.Consideration under TPG Consortium's indicative proposal comprises $0.95 in cash.Consideration under proposal also comprises 1 share in a newly listed co which consortium values at $0.25 - $0.30 per share.New Media Co would be created by demerging and listing Australian Community Media, New Zealand Media, Macquarie Media and Stan."New Media Co would be separately listed on ASX".TPG Consortium propose to fund cash consideration through a combination of equity (to be provided by TPG Consortium) and debt."Proposed split of businesses may not optimise shareholder value".  Full Article

NZME Ltd says NZ Commerce Commission declines to grant authorisation for proposed merger
Tuesday, 2 May 2017 08:22pm EDT 

May 3 (Reuters) - NZME Ltd :NZ Commerce Commission declines to grant authorisation for proposed merger.NZ Commerce Commission declined to grant authorisation to proposed merger of NZME and Fairfax New Zealand Limited.  Full Article

NZME Ltd and Fairfax New Zealand updates on NZCC decision date on proposed merger
Thursday, 27 Apr 2017 04:42pm EDT 

April 28 (Reuters) - Nzme Ltd :NZME limited & Fairfax New Zealand have received, and agreed to, request for a one day extension for NZCC final decision on proposed merger to May 3.NZCC have today confirmed that decision will be released pre-market open on Wednesday 3 May 2017.  Full Article

Altius and Fairfax close strategic investment transaction
Wednesday, 26 Apr 2017 06:55pm EDT 

April 26 (Reuters) - Altius Minerals Corp :Altius and Fairfax close strategic investment transaction.Altius Minerals - Fairfax agreed to purchase, 5% preferred securities in aggregate amount up to $100 million, issuable in tranches of not less than $25 million.Has closed today an initial purchase of preferred securities for $25 million.Issued 6,670,000 common share purchase warrants, exercisable at $15 per share.  Full Article

Fairfax Media commences process of consultation with its Australian metro publishing newsrooms
Tuesday, 4 Apr 2017 08:36pm EDT 

Fairfax Media Ltd : Commenced a process of consultation with its australian metro publishing newsrooms . Including non-staff costs proposal is expected to deliver about $30 million in annualised savings with majority of these savings expected in 2018 FY .Consultations on proposed changes which will complete major structural editorial changes required to secure futures of metropolitan mastheads.  Full Article

Fairfax Media commences process of consultation with its Australian metro publishing newsrooms
Tuesday, 4 Apr 2017 07:43pm EDT 

Fairfax Media Ltd : Commenced a process of consultation with its australian metro publishing newsrooms . Including non-staff costs proposal is expected to deliver about $30 million in annualised savings with majority of these savings expected in 2018 FY .Consultations on proposed changes which will complete major structural editorial changes required to secure futures of metropolitan mastheads.  Full Article

NZME updates on NZME, Fairfax NZ merger
Tuesday, 28 Mar 2017 04:28pm EDT 

Nzme Ltd : NZME Fairfax NZ merger update . NZME and Fairfax Media Limited's Fairfax New Zealand have received, and agreed to, a request from New Zealand Commerce Commission . Request from NZCC to further extend target date for NZCC's final decision on proposed merger of two businesses to 2 may 2017 .NZME and Fairfax remain of view that merger enhances ability of companies to invest in new revenue streams.  Full Article

NZME updates on Fairefax NZ merger regarding NZCC's final decision
Thursday, 9 Mar 2017 02:43pm EST 

NZME Ltd : NZME Fairfax NZ merger update . NZCC are now seeking to provide a final determination on proposed merger by 11 April 2017 .NZME and Fairfax new zealand received, agreed to, request from NZCC to extend 15 march 2017 target date for NZCC's final decision on proposed merger.  Full Article

Fairfax Media says fy17 h2 total expense growth expected to moderate to around 13% year on year
Tuesday, 21 Feb 2017 05:07pm EST 

Fairfax Media Ltd - :Fy17 h2 total expense growth is expected to moderate to around 13% year on year.  Full Article

Fairfax Media says HY net profit from ordinary activites after tax up 206 pct
Tuesday, 21 Feb 2017 05:07pm EST 

Fairfax Media Ltd : Hy net profit from ordinary activites after tax attributable to members up 205.6% to $83.7m . hy total revenue down 4.7% to $913.0m .interim dividend 2.0¢ per share.  Full Article

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TPG commits to editorial independence if it wins Fairfax Media bidding war

MELBOURNE 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 .