Shares in Fairfax Media Limited
(ASX:FXJ) rose at the end of last week after State Super told the Australian Securities Exchange (ASX) it was a substantial shareholder.
State Super has acquired a 5.03 per cent stake in the media company with 118.3 million shares and became a substantial shareholder on August 10, 2012.
Fairfax’s papers have cited speculation a strategic investor may also be building a stake in the company.
Fairfax announced the sale of its US based agricultural media business for $US79.9 million less than two weeks ago.
Shares in Fairfax Media rose 4.88 per cent on Friday to finish the week at $0.43. Fairfax Media reported a net loss of $2.7 billion in the 2012 financial year.
