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 joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter.