Fairfax (John) Holdings Limited

By Intelligent Investor · 17 Apr 2003

By Intelligent Investor ·
17 Apr 2003

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Fairfax Media Limited - FXJ

Current price

$0.66 at 16:36 (11 December 2018)

Price at review

$2.97 at (17 April 2003)

All Prices are in AUD ($)

Newspaper publisher Fairfax has reached an agreement to purchase the New Zealand publishing business of Independent Newspapers. The NZ$1.2bn price tag will be funded by debt and new shares. The acquisition includes some good assets, with two national newspapers plus dominant metropolitan and regional newspapers. But Fairfax has never been able to extract much value out of its fantastic assets here in Australia, so we're not willing to bet its track record will alter dramatically after this acquisition. With the stock is down a touch since issue 121/Feb 03 (Sell/Switch to PBL - $2.99), we continue to recommend you SELL and SWITCH to PBL.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

Fairfax (John) Holdings Limited

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Fairfax (John) Holdings Limited

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