Feb 22, 2013

Fairfax is a basketcase … and an old media success

Compared to News Limited and APN, Fairfax is starting to resemble an oasis of strength. Costs and debt are under control and there's cash in the bank, unlike other newspaper businesses.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

You wouldn’t read about it, but as bad as Fairfax’s results are — they were released yesterday — they’re not as bad as you might think.

Long analysis on the results in The Australian was short on comparisons closer to home: Rupert Murdoch’s Australian arm continues to slash staff and costs across the country in preparation of the separation from the parent company in a few months’ time, and to deal with huge debts taken on to boost its stake in Foxtel and control Fox Sports.

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3 thoughts on “Fairfax is a basketcase … and an old media success

  1. paddy

    While Fairfax might be (slightly) better off than News Ltd as far as costs go, both companies appear to have well and truly hit the iceberg. It’s really just a case of who’ll sink first.

  2. Gavin Moodie

    Thanx for this report and fresh analysis. Are the Age and Sydney Morning Herald (aka Fairfax National) threatened by the imminent launch of an Australian Guardian. The Fairfax boss insists not, but I wonder.

  3. Counterpoint

    The author makes some interesting, if highly opinionated (RE “hacks at news ltd”) points. However Fairfax’s publications are going to be hit very hard once the paywall goes up, and Fairfax finds itself charging its many readers for the same kind of centre-left news and editorial content that can be found for free on The Drum, The Conversation and soon The Guardian, AUS. Of the major metropolitan newspapers, The Age and the SMH are in the steepest decline – a fact not mentioned by the author, and this is where the money is made.

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