Fairfax Considering Writing Down Value Of Mastheads -Report

Date : 06/06/2012 @ 7:28PM
Source : Dow Jones News
Stock : News Corp. (MM) (NWSA)
Quote : 13.21  0.0 (0.00%) @ 8:56AM

Fairfax Considering Writing Down Value Of Mastheads -Report

Fairfax Media (ASX:FXJ)
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   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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