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 presents the Market Outlook and company news. She joined FNN in January 2017. She has been in broadcast journalism for over five years. She has worked as a journalist with Sky News Business, ABC 1 and ABC24. She has also worked in regional Australia for Prime 7 and WIN News. She is also a qualified financial planner and a Masters of Applied Finance student.