If Gina Rinehart ever gets her way and wins a spot on the Fairfax board, there's one person she should ring for advice: Ita Buttrose.
There is a respectable point of view among those who analyse media businesses that the smart thing to do for serious news journalism is move to the political right.
With its share price sliding to record lows, Fairfax Media is now in the invidious position of having the most wildly optimistic balance sheet of any ASX200 company.
Head of Fairfax Media Brian McCarthy quit today, effective immediately, after he refused an offer to stay on for 3-5 more years. Fellow board member Greg Hywood will act as a temporary replacement, until a permanent is found.
The announcement of the retirement of Fairfax director JB Fairfax yesterday came as a surprise to even close watchers of the company.
Things are coming to a head, at last, in the ongoing confusion and flailing around at Fairfax Media. Whether this results in any brave new direction for the company remains to be seen.
It is hard to understand why it has taken Fairfax Media more than three months to announce the trio of relatively tame board appointments. Still nobody on the board has an inside understanding of journalism.
It took two years for the Fairfax Board to realise that David Evans, one of its members, was in breach of the law by being a director of both Fairfax Media and Village Roadshow. Just another example of poor governance at Fairfax?
Roger Corbett’s Christian values didn’t appear to count for much when the opportunity presented for Woolies to leap into the pokies business. Why is the anti-gambling Salvation Army associated with someone who actively supports pokies?
If there is a growth and a renewal story for Fairfax, it needs to be found soon. The Board has made it clear it wants to recruit media experience. Where will it turn?