Fairfax not selling stake in Macquarie Media Limited

Company News

by Jessica Amir

Fairfax Media Limited (ASX:FXJ) says it is not seeking offers or undertaking a process to sell its 54.5 per cent holding in Macquarie Media Limited (ASX:MRN).

Fairfax made the comments in response to market speculation.

Contrary to the company not wishing to sell its holding, it received an offer to buy the stake from a consortium of investors, including Mr John Singleton and Mr Mark Carnegie.

Fairfax says as Macquarie Media is a separately listed company, any potential offer is a matter for Macquarie Media and not Fairfax.

Shares in Fairfax Media Limited (ASX:FXJ) are trading 1.39 per cent higher to $1.24. 
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.