ADVFN - Advanced Financial Network.
HOME» NASDAQ » N » NWSA Stock Price » NWSA Stock News

News Share News

 News (mm) Stock Price
NWSA Stock Price
 News (mm) Stock Chart
NWSA Stock Chart
 News (mm) Stock News
NWSA Stock News
 News (mm) Company Information
NWSA Company Information
 News (mm) Stock Trades
NWSA Stock Trades

Investor Says No Surprise If Fairfax Wrote Down Mastheads

By Gavin Lower MELBOURNE--A Fairfax Media Ltd. (FXJ.AU) investor said Thursday investors and bankers were unlikely to be too concerned if the company's board chose to write down the value of its mastheads. The Australian newspaper reported earlier Thursday Fairfax's board was considering a further writedown to the value of its newspaper mastheads, without saying where it got the information. A spokeswoman for Fairfax declined to comment. "It probably would not be a shock to anyone given newspaper circulation is declining," Sean Fenton, portfolio manager at Tribecca Investment Partners, said about the report. "I don't think the board would be doing anything other than recognizing what the market's done," Mr. Fenton said. Fairfax's share price has fallen 21% in 2012 and touched an all-time low of 56.5 Australian cents on June 6. Last August, Fairfax wrote down the value of its mastheads, customer relationships and goodwill by 650.7 million Australian dollars (US$647.8 million) after tax. Mr. Fenton said cash flows at Fairfax were what mattered most to investors. Fairfax publishes The Age, The Sydney Morning Herald and The Australian Financial Review newspapers and is a competitor to News Corp. (NWS.AU), the owner of this newswire and The Australian newspaper. Fairfax, like other media companies in Australia, has seen its earnings hit by soft advertising markets. It is also undergoing a structural change as it adapts to consumers switching from newspapers to the internet to access their news. "There's certainly a future for them if they can execute on managing that structural change that's occurring in the market - the shift to online," Mr. Fenton said. Write to Gavin Lower at gavin.lower@wsj.com

Stock News for News (NWSA)
DateTimeHeadline
08/27/201510:40:00Pending Home Sales Index Rises
08/21/201515:30:00EU Deepens Google Antitrust Investigation
08/20/201510:40:00U.S. Existing Home Sales Rise to Pre-Recession Pace
08/18/201516:33:10Statement of Changes in Beneficial Ownership (4)
08/18/201516:32:20Statement of Changes in Beneficial Ownership (4)
08/18/201516:31:52Statement of Changes in Beneficial Ownership (4)
08/18/201511:33:00Checkout 51 Wins Future Digital Award From Juniper Research
08/18/201509:40:58Current Report Filing (8-k)
08/13/201516:34:02Statement of Changes in Beneficial Ownership (4)
08/13/201516:33:10Statement of Changes in Beneficial Ownership (4)
08/13/201516:32:17Statement of Changes in Beneficial Ownership (4)
08/13/201506:45:51Annual Report (10-k)
08/13/201506:00:0010 ZIP Codes Rise Above 32,000 to Create Realtor.com®'s 2015...
08/12/201519:40:12News Corp Posts Loss on Education Write-Down
08/12/201516:30:00News Corporation Reports Fourth Quarter and Full Year Results...
08/12/201505:00:06Pearson Sells 50% Stake in Publisher of the Economist
08/10/201518:12:00S&P U.S. Indices Methodology Update and Constituent Additions
08/10/201510:24:55Amended Statement of Ownership (sc 13g/a)
08/04/201518:30:21Zillow Revenue More than Doubles
08/03/201510:11:00HarperCollins Publishers Announces the Formation of HarperCollins...

News and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad