Passed in without a formal bid. Not even a dummy bid.
Key points:
- Redundancy and restructuring costs have eroded print cash flow to “negligible” levels
- Fairfax will return to its selling up to 40pc of Domain real estate and cutting print costs
- Domain is valued at around $2.3b
It is an irony not lost on the Fairfax Media board as it put the business up for auction, hoping an outsized return would be delivered by its most valuable piece of real estate, the Domain property advertising portal.
Things had looked promising. It appeared genuine buyers were circling.
By the time US private equity firm Hellman and Friedman put in an extremely conditi…
Read the full article at: http://www.abc.net.au/news/2017-07-06/fairfax-media-goes-back-to-plan-a/8680096