Fairfax Media Limited’s
(ASX:FXJ) group of high profile change-seeking investors has reportedly gained another member, ex-Consolidated Press Holdings CEO Trevor Kennedy.
According to News Corp reports Mr Kennedy joins ad-man John Singleton, Banker Mark Carnegie and Crown Limited
(ASX:CWN) director Geoff Dixon, all working alongside Fairfax majority shareholder Gina Rinehart in agitating for a strategy change at the media giant.
The high profile group of Rinehart supporters comprises Gutenberg Investments Unit Trust, formed by Mr Singleton and Mr Carnegie.
While it is not clear exactly how the allegiance will go about their push for change, they have released a legal agreement pertaining to media dealings, following last Friday’s announcement that Gutenberg would be associated with Mrs Rinehart.
John Singleton has stated that the lifeblood of Fairfax, its journalistic integrity, would never be compromised if Rinehart’s Hancock Prospecting and Gutenberg Investments had a significant say in its future.
Fairfax Media reported a $2.7 billion loss in the 2012 financial year.
