Fairfax Media Limited’s (ASX:FXJ) chairman Roger Corbett says Kerry Stokes’ claims are unjustified and inappropriate. That’s according to The Australian.
Seven West Media Limited’s (ASX:SWM) Mr Stokes suggested last week the Fairfax family’s decision to sell its remaining stake in Fairfax Media showed the media group had no plan for the future and was a sign the family had lost faith in the group.
Mr Corbett has also apologised to the Fairfax family for selling their 9.7 per cent stake for a fraction of what it was once worth.
In the 2011 financial year Fairfax Media reported a net loss of $390 million.
