Fairfax Considering Writing Down Value Of Mastheads -Report
June 06 2012 - 6:28PM
Dow Jones News
By Gavin Lower
MELBOURNE--Fairfax Media Ltd. (FXJ.AU) is considering a further
write-down to the value of its newspaper mastheads, The Australian
newspaper reported Thursday, without saying where it got the
information.
The newspaper said Fairfax board members have privately
acknowledged the company needs to reconsider the value ascribed to
mastheads on the balance sheet given the company is pushing to
restructure towards digital.
Fairfax publishes The Age, The Sydney Morning Herald and The
Australian Financial Review and is a competitor to News Corp.
(NWS.AU), the owner of this newswire.
A spokesperson for Fairfax wasn't immediately available to
comment.
Newspaper website: http://www.theaustralian.news.com.au
Write to djnews.sydney@dowjones.com
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