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Aug 26, 2011

Fairfax results: analysts question $85 mil carve out

Media analysts have queried Fairfax CEO Greg Hywood on his plan to carve out $85 million from the ailing media company's cost base.

Andrew Crook — Former <em>Crikey</em> Senior Journalist

Andrew Crook

Former Crikey Senior Journalist

Media analysts have queried Fairfax CEO Greg Hywood on his plan to carve out $85 million from the ailing media company’s cost base.

10 comments

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10 thoughts on “Fairfax results: analysts question $85 mil carve out

  1. Suzanne Blake

    The Financial Review sales are just 70,000 copies a day and declining fast, as all it is is press release a day later.

    The other papers are suffering due to the quality of journalism and balance.

  2. GocomSys

    @SUZANNE BLAKE
    You said: “The other papers are suffering due to the quality of journalism and balance”.
    Do you actually mean it? I am flabbergasted! How about the following:

    We can refuse to buy News Corp publications. Writers and other staff can withdraw their services. Advertisers can withdraw custom. Consumers can contact those who advertise in News Corp publications and tell them we will boycott their products or services as long as they do so.

    And we can tell our MPs we will not vote for parties which in government or opposition advertise in Murdoch outlets. The current federal Government has strong grounds to do just this, but needs a nudge.

    This is a campaign well worth joining by those who recall democracy and free enterprise as it once was. We might even win.

    Suzie, have a look at this: http://eurekastreet.com.au/article.aspx?aeid=27274

    What do you think?

  3. GocomSys

    @SUZANNE BLAKE
    You might have a look at this one too:

    http://onlineopinion.com.au/view.asp?article=12286

    RSVP

  4. Harvey Tarvydas

    Dr Harvey M Tarvydas

    @SUZANNE BLAKE — Posted Friday, 26 August 2011 at 2:04 pm
    I think you are right.

    @GOCOMSYS — Posted Saturday, 27 August 2011 at 12:19 pm
    I read it, absolutely brilliant!

  5. Suzanne Blake

    @ GoComSys

    I don’t buy papers, read online or read in a cafe.

  6. GocomSys

    @SUZANNE BLAKE – posted Saturday, 27 August 2011 at 7:00 pm

    I am glad to hear that you agree with the following statement:

    “Essential to free enterprise and democracy is access to information free of distortion. Newspapers are free to say what they will in editorials and opinion pieces, of course. But news data must be untainted”.

    You said: “I don’t buy papers, read online or read in a café”.
    You probably are selective about “what” you read I take it?

  7. Suzanne Blake

    @ GeocomSys

    I scan / read 4 newspapers a weekday and Saturday online and two on Sundays.
    Apart from that just Crikey.

  8. GocomSys

    SUZANNE BLAKE – posted Sunday, 28 August 2011 at 8:03 am

    “I scan / read 4 newspapers a weekday and Saturday online and two on Sundays”.
    It would be interesting to know which one’s, could you be more specific? Thanks!

  9. Joceyln Tan

    SUZANNE BLAKE – why do you read them? Or are you merely saying that you won’t pay for anything?

    My point being that it’s hardly surprising that newspaper finances are failing when the product is free in another, quite convenient place. And while Mr Hywood would appear to think that there is some future in the web site business, his own data (have a look at the investor presentation) shows fairly plainly that the growth he’s talking about is not at all in the SMH and Age web sites, but in various sites (mainly TradeMe) that Fairfax paid very big bucks for. It must be getting very hot in there, since Fairfax has decided to sell down its ownership of its best growth asset (TradeMe) and the only reason given is that Fairfax’s $600m cash flow isn’t enough to meet TradeMe’s growth needs????

  10. Suzanne Blake

    @ GoComSys

    I scan and read the Newcastle News, Wyong/Gosford Advocate, SMH, Australian on weekdays and SMH and Tele on Sundays.

    I think a lot of people read papers for free in cafe’s and other establishments these days. I see people in the mornings buying the $4 coffee with a glass of water and reading / skimming the stack of papers available. Also with content on ABC News 24 etc, you can get a news fix at lot easier than in the past.

    @ Joceyln Tan

    I suspect Fairfax and News will put up a paywall soon. The SMH iPad app (which is very good) is free now, but I expect not for long. I don’t know TradeMe so cannot comment.

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