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
05/22/201510:00:00News Corp to Participate in Bank of America Merrill Lynch Global...
05/22/201507:00:36Current Report Filing (8-k)
05/21/201511:00:00Harlequin Announces the Launch of Harlequin Audio
05/21/201511:00:00Harlequin Announces the Launch of Harlequin Audio
05/21/201510:50:03U.S. Existing Home Sales Decline 3.3% in April
05/21/201507:40:30U.K. Tabloid Ordered to Pay $1.88 Million to Phone-Hacking Victims
05/20/201516:31:28Specialized Disclosure Report (sd)
05/20/201512:15:10What Is the S&P 500 Index?
05/20/201506:00:00Realtor.com® Campaign Speaks to New Yorkers in the Language...
05/18/201507:10:03Current Report Filing (8-k)
05/17/201520:11:15Booksellers Heap Promotions on New Harper Lee Novel
05/15/201519:55:34Third Point Sells Entire $1 Billion Stake in Alibaba
05/15/201509:07:02Zillow Group Inc Earnings: Is Trulia Trouble or Treasure?
05/14/201509:00:00New Move, Inc. Product Enhancements Increase Lead Conversion...
05/14/201507:36:44Current Report Filing (8-k)
05/12/201516:47:00Realtor.com® Steps Out with New Graphic Look for Web and Mobile...
05/12/201507:52:09Current Report Filing (8-k)
05/11/201508:13:15Current Report Filing (8-k)
05/10/201519:58:00News Corp Begins Executing On Stock Buyback Program
05/06/201507:25:23Quarterly Report (10-q)

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