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 is a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.