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.