Fairfax Media Limited
(ASX:FXJ) New Zealand holding company Fairfax New Zealand on Friday reportedly wrote down the values of its local newspaper titles by more than 80 per cent.
Fairfax New Zealand reportedly lodged statements with the Companies Office slashing the value of its mastheads to $175.2 million by June 30.
The New Zealand division publishes the Dominion Post, Press and Sunday Star Times.
The mastheads were valued at $950 million in June this year.
Fairfax Media reported a net loss of $2.7 billion loss in its 2012 financial year.
