73-852: BRW (formerly Business Review Weekly ) was an Australian business magazine published by the Fairfax Media group. The magazine was headquartered in Melbourne. It regularly compiled lists which rank corporations and individuals according to various criteria, similar to Fortune magazine in the United States . BRW provided news and commentary on the economy, business and investment in Australia. The magazine reported on successful business strategies, investments and entrepreneurialism. Cover stories and features concentrated on ways to make money and improve businesses. Each week BRW focused on
146-617: A finance newsroom . It has consistently been well received by the journalism sector as one of the most high-quality newsrooms across Australia. Since the 2000s, the AFR has launched BOSS (magazine for business leadership and strategy) and the Sophisticated Traveller magazine. In 2019, the Australian Financial Review recorded double-digit subscriber growth, as it continued to market its newspaper as
219-591: A media company in Australia and New Zealand, with investments in newspaper, magazines, radio and digital properties. The company was founded by John Fairfax as John Fairfax and Sons , who purchased The Sydney Morning Herald in 1841. The Fairfax family retained control of the business until late in the 20th century. The company also owned several regional and national Australian newspapers, including The Age , Australian Financial Review and Canberra Times , majority stakes in property business Domain Group and
292-669: A 14 percent stake in the company. Rinehart also sought a position on the Fairfax board. By June 2012, Rinehart had increased her stake in Fairfax Media to 18.67 percent, and was believed to seek three board seats and involvement in editorial decisions. There were reports that Rinehart sought to increase her total share to 19.99%, the maximum allowed before a takeover offer must be made. But provisions in Fairfax Media's insurance policy denied cover for directors owning more than 15%, so Rinehart had to sell down to 14.99%. Rinehart
365-606: A 51% of the combined entity and Fairfax shareholders own 49%. Fairfax Media was delisted from the Australian Securities Exchange in December 2018. Fairfax had a portfolio of print and digital media assets. The Fairfax divisions cover: Fairfax held a 60% stake in Domain Group , a digital real estate business containing Domain.com.au, which was a wholly owned subsidiary until it was spun off as
438-739: A 55% share in Macquarie. A party may hold only two radio licences in each market, so some stations including 2CH and the Macquarie Regional Radio network were sold. In turn, 96FM Perth was sold to Australian Radio Network . The merger was completed in March 2015. In 2015, Fairfax created a partnership with The Huffington Post to launch HuffPost Australia. Drive.com.au is an Australian motoring website founded by in 1996 by Fairfax Media. In 2015 Fairfax outsourced production to 112 Pty Ltd, owner of The Motor Report. After
511-479: A A$ 2.9 billion bid for Fairfax Media, starting a bidding war with TPG Capital for Fairfax. Fairfax opened books to both parties, opening the door for The Sydney Morning Herald and The Age to pass into foreign ownership. On 26 July 2018, Fairfax Media and Nine Entertainment Co. announced it had agreed on terms for a merger between the two companies. Shareholders in Nine Entertainment Co. took
584-603: A daily business tabloid, The Australian Financial Review . Fairfax also owned papers in major regional centres, including the Illawarra Mercury (Wollongong), The Newcastle Herald (Newcastle), The Border Mail (Albury-Wodonga), The Daily Advertiser (Wagga Wagga), The Warrnambool Standard (Warrnambool), The Courier (Ballarat) and Bendigo Advertiser (Bendigo). In addition, its subsidiary Fairfax Community Newspapers publishes 35 community newspapers serving suburban Victoria and New South Wales . As
657-572: A market capitalisation of over A$ 5 billion. The number of printed edition readers has fallen since 2006 and the group's stock price has declined by more than 60 percent since 2007, to less than A$ 2 billion by September 2011, and by 85 percent at June 2012. On 11 July 2007, Fairfax Media acquired the former radio assets of Southern Cross Broadcasting (on-sold from Macquarie Media Group's purchase of SCB): 2UE Sydney, 3AW and Magic 1278 Melbourne, 4BC and 4BH Brisbane, and 6PR and 96fm Perth. Graham Mott will continue in his role as general manager of
730-447: A paywall was done because the newspaper company thought it could further monetise its niche business audience who could afford it. Following this change, the AFR continued to adjust the pricing of its subscription due to low subscriber growth. In 2011, it newly introduced a freemium paywall in which only a small portion of articles were free. It has been noted that the AFR's website locks approximately 86% of its online content behind
803-513: A paywall, higher than its closest competitor the National Business Review . This was aimed at increasing its digital readership which in 2011 amounted to 6,000 subscribers. In addition, it was later determined that the AFR's failures in attracting online subscribers was due to its paywall being too expensive. Its 2012 price of $ 59 AUD was notably higher than other international mastheads, including The New York Times which
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#1732775557580876-498: A publicly listed company in November 2017. Fairfax Media published metropolitan, agricultural, regional and community newspapers, financial and consumer magazines. In Australia, mastheads include The Sydney Morning Herald , The Age , The Australian Financial Review , The Canberra Times , The Sun-Herald , Stock And Land and The Land . Fairfax published The Age and The Sydney Morning Herald . It also publishes
949-409: A range of similar classifieds and local newspaper websites. On 21 December 2012, Fairfax Media announced the acquisition of Netus Pty Ltd, a technology investment company. Netus owned 85% of Allure Media . Fairfax purchased the remaining 15 per cent of Allure Media from minority shareholders resulting in Fairfax ownership of 100 per cent of Allure Media. Allure Media own a range of websites, including
1022-466: A result of its Rural Press acquisition, Fairfax took control of many newspapers including The Canberra Times and The Land . On 30 April 2019, Nine announced the sale of Fairfax community papers to former Fairfax Media executive Antony 'The Cat' Catalano for $ 115 million. Fairfax published a number of magazines, such as The Magazine (Sydney) , The Age Magazine (Melbourne) and Good Weekend , which were distributed with their newspapers. In addition,
1095-460: A sector or topic relevant to business people or investors. In October 2013, Fairfax announced that the print version of the magazine would be discontinued, with the 28 November 2013 magazine being the last edition. From December 2013, BRW became an online-only publication and the paywall previously in place was removed. Some popular annual lists will also be published in Fairfax's The Australian Financial Review . On 4 March 2016, Fairfax announced
1168-559: A wide-ranging audience. The magazine was published to cover topics other than business including leisure , politics , travel , sports , fashion , and other peripheral topics. In December 2019, the magazine recorded an average issue readership of 326,000. Since its launch in 1995, the AFR Magazine has won the 'Best Newspaper Inserted Magazine' (2013-2019), 'Newspaper Inserted Brand of the Year' (2019) and Mumbrella's 'Special Issue of
1241-487: Is an Australian business-focused, compact daily newspaper covering the current business and economic affairs of Australia and the world. The newspaper is based in Sydney , New South Wales, Australia; owned by Nine Entertainment and has been published continuously since its founding in 1951. The AFR is published in tabloid format six times a week, whilst providing 24/7 online coverage through its website. In November 2019,
1314-434: Is branded AIR). MyTalk , a datacasting channel, was officially purchased from Southern Cross Broadcasting on 5 November 2007, and ceased broadcasting on 25 February 2008. In late 2011, John B. Fairfax and his family investment company, Marinya Media, sold their remaining 9.7 percent stake in Fairfax Media for A$ 189 million. The sale came after an earlier dispute between John B. Fairfax and Ron Walker , Chairman of
1387-587: The Brisbane Times . The website initially employed 14 journalists and was an attempt by Fairfax to break into the South East Queensland market. On 20 March 2007 Fairfax Media launched a new business website, BusinessDay.com.au that aggregated feeds from the other news vehicles in the Fairfax stable as well as "from the world's most respected news sources". It featured breaking news updated "every 15 minutes". Also in 2007 Fairfax Media bought
1460-839: The Brisbane Times ; and in Western Australia as WAtoday . Both The Age and The Sydney Morning Herald produce a limited amount of video content, which is only available online. As a rival to Nine.com.au 's Nine News and Yahoo7 's Seven News , Fairfax websites previously had non-exclusive licensing deals to replay news video content from broadcaster Network Ten and its former main news service Ten News at Five (now Ten Eyewitness News ). Fairfax's deal with Ten has now discontinued when their news video content are now being shown on Ten's catch-up service, Tenplay which launched in late 2013. From 2014, Fairfax now have non-exclusive licensing deal with Channel Seven by using clips from Seven News with Mark Ferguson . Rural Press owns
1533-509: The AFR converted to a bi-weekly, and then established itself as the first daily newspaper by 1963. Despite other newspapers claiming the title of the first daily national paper, Maxwell Newton was the editor in charge of taking the Financial Review from a bi-weekly to the first daily national paper. During 1961–62, the AFR's primary competitor was The Australian Financial Times , which was in operation for less than 12 months. In
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#17327755575801606-438: The AFR launched mobile and iPad compatible applications to provide its digital subscribers more accessibility to its news platform. This was aimed at allowing cross-platform accessibility without having to download two separate applications across different device platforms. The application carries similar features to the website including sections such as: Street Talk and Rear Window. The product management team decided to revamp
1679-404: The AFR reached 2.647 million Australians through both print and digital mediums (Mumbrella). The Australian Financial Review started as a print-only weekly newspaper in 1951, before changing to a bi-weekly in 1961, and a daily newspaper in 1963. The paper now publishes multiple magazines and a supplementary weekend paper, which was launched in 1995. In that same year, the AFR website
1752-502: The AFR , now being published annually in the Australian Financial Review Magazine and on the afr.com . Along with the names of the richest people, the list explicates the person or family's net worth and provides a short summary on the business activities and sector they are engaged in. The valuations are conducted by utilising a mix of publicly available information and private consultations. In 2019,
1825-611: The BRW Fast Club , which was developed to drive new business opportunities, forge partnerships and discuss current business issues for Australia's fastest growing businesses. The BRW Fast Club is a community of like-minded entrepreneurs that comprises members of the BRW Fast 100, BRW Fast Franchises and BRW Fast Starters lists from the past five years; members of the BRW Top 500 Private Companies List; and businesses who fit
1898-473: The Financial Review in Tasmania, with copies to instead be flown in from Melbourne on the following day. The decision was subsequently reversed. In May 2024, printed editions of the Financial Review were discontinued in Western Australia, which Nine attributed to an increase in printing costs by its competitor Seven West Media, the owners of the only suitable printing press in Western Australia. Within
1971-578: The Macquarie Radio Network , and joint ventures in streaming service Stan and online publisher HuffPost Australia . The group's last chairman was Nick Falloon and the CEO was Greg Hywood . On 26 July 2018, Fairfax Media and Nine Entertainment Co. announced it had agreed on terms for a merger between the two companies. Shareholders in Nine Entertainment Co. took a 51% of the combined entity and Fairfax shareholders own 49%. Fairfax Media
2044-539: The ' Cyprus Confidential ' report on the financial network which supports the regime of Vladimir Putin , mostly with connections to Cyprus, and showed Cyprus to have strong links with high-up figures in the Kremlin, some of whom have been sanctioned. Government officials including Cyprus president Nikos Christodoulides and European lawmakers began responding to the investigation's findings in less than 24 hours, calling for reforms and launching probes. AFR has won
2117-613: The 1960s and 1970s, the AFR developed a strong readership amongst a specialist business audience due to its neutral stance on domestic government policies. In the 1970s, despite the AFR's reputation as a national business daily, many saw it as the primary competitor for The Australian given its high proportion of readers in the AB demographic . In 1995, Fairfax launched the Australian Financial Review Magazine in response to its growing readership across
2190-616: The 1960s, acquiring, among others, The Age , The Newcastle Herald and the Illawarra Mercury . In 1979, Rupert Murdoch attempted to acquire rival The Herald and Weekly Times . Due to the costs of defending the acquisition, Fairfax sold its television properties, including the Seven Network . In 1988, Fairfax sold its magazines (including Woman's Day , People , Dolly , and Good Housekeeping ) to Australian Consolidated Press , and discontinued its Sydney afternoon tabloid The Sun , transferring some of its content and
2263-416: The 1980s), and through John B. Fairfax of Rural Press, saw the return of the Fairfax family to the company board. The company also gained a number of other regional newspapers, radio stations and websites; plus agricultural publications in various countries. On 12 January 2007, John Fairfax Holdings changed its name to Fairfax Media. On 7 March 2007, Fairfax Media announced a new website for Brisbane, called
BRW (magazine) - Misplaced Pages Continue
2336-470: The 1990s, the AFR 's reporting focus steered more towards business investigative journalism, scrutinising big corporations, government power and corruption. This was viewed as the AFR making reparations for its lack of scrutiny over the corporate sector in the lead-up to the stock market crash. One major factor that allowed the AFR to undertake deep corporate investigations was that it did not need advertising revenue to stay afloat – its cover price
2409-545: The AFR's daily newspaper, regularly scheduled sections include: Across the AFR group, the team does not only publish newspapers. Its range of operations is listed below: The Financial Review Rich List aims to compile an annual ranking of the wealthiest Australian citizens. The list was first published in the BRW Magazine in 1984. Since its beginnings, the compilation of the list and its publishing have been taken over by
2482-702: The Australian licenses for Lifehacker , Gizmodo and Kotaku . Fairfax Syndication manages the commercial licensing and distribution of text, photographic and multimedia content to media companies and commercial clients worldwide. Fairfax Syndication has enabled instant online licensing and has developed a customised syndication application 'API' that allows existing and future syndication clients access to real-time content from multiple websites for immediate use on other platforms. The division also represents their image library and photo syndication service containing over 16 million images. The New Zealand subsidiary
2555-560: The Board of Fairfax Media, which led to the very public departure of Walker. Continued poor performance of Fairfax Media in light of changing news services was cited as one of the reasons for the sale of Marinya Media's interests in Fairfax. John B. Fairfax had earlier stood down from the Fairfax board, and his son, Nick Fairfax, was reported to be discussing his future with the rest of the company board. In 2012, mining billionaire Gina Rinehart became Fairfax's biggest shareholder, purchasing
2628-618: The InvestSMART business to Australasian Wealth Investments Limited, now called InvestSMART Group Limited, for A$ 7M. In August 2005, Fairfax ended its 16-month search for a new chief executive officer with David Kirk , a former Rugby Union World Cup winning captain of the New Zealand All Blacks being appointed to replace departing CEO Fred Hilmer . David Kirk got the job ahead of Fairfax COO Brian Evans (former head of Fairfax New Zealand) and Doug Flynn , who took
2701-673: The Media Entertainment and Arts Alliance, and the Journalists' union warned the ACCC that the mega-cap takeover would threaten the editorial independence of Fairfax Media's portfolio newspaper companies. Former prime minister Paul Keating also voiced his criticisms labelling the ACCC's decision as "appalling", considering that a more concentrated media industry would reduce coverage of city-specific political issues. In October 2022, Nine announced that it would discontinue printing
2774-433: The Year' (2019). The magazine's founding was followed by the launch of the AFR 's website in the same year, which started as a free online source of financial news. In 1997, the AFR launched its Weekend Edition which extended the paper's publications into the weekend, with an explicit focus of targeting the growing readership base by providing news articles outside of the traditional finance setting. In 2016,
2847-414: The app due to the wide uptake of smartphones in the Australian market, and to improve their user-interface experience. The UTS Business School was the launch partner for the app, providing logistical advice on the app's delivery. The app's subscription price is included in the 'all premium digital subscription' bundle. The Australian Financial Review has grown its product offerings since its beginnings as
2920-482: The broadcast radio group under Fairfax. Mott indicated at the time of the acquisition that national syndication of programming (such as that of the since-retired John Laws ) would largely be replaced on the network with more localised syndication at a state level. Fairfax also acquired Satellite Music Australia (SMA) as part of the SCB deal, who provide music channels to retailers, as well as Foxtel and Austar (where it
2993-468: The brunt of the cuts, with 160 full-time employees losing their jobs. On 5 December, David Kirk tendered his resignation, and on 10 December Brian McCarthy (former Rural Press CEO) was appointed as CEO. A new campaign, "Fair Go, Fairfax: Don't discount journalism", was launched by the MEAA in protest to the cuts arguing that the jobs losses will affect "quality journalism". As of May 2008 Fairfax Media had
BRW (magazine) - Misplaced Pages Continue
3066-505: The closure of the BRW website, with staff and the BRW website to be redirected to a new section of The Australian Financial Review . Rich lists, which would also be published by The AFR would continue to carry the BRW branding. Each year BRW named the 200 richest people in Australia and the magazine regularly published stories about how the wealthy made their money. Other annual lists published by BRW included: In 2009, BRW launched
3139-710: The company collapsed and a receiver was appointed, with company debts of A$ 1.7 billion. By 1993, the company was re-listed on the Australian Securities Exchange and the two biggest shareholders of John Fairfax Holdings were the Canadian newspaper magnate Conrad Black and his Hollinger Group with 25%, and the Australian media mogul, Kerry Packer and his publicly listed company, Publishing and Broadcasting Limited with 15%. Due to Australian government concerns over media consolidation that limited any single foreign shareholder holding more than 25% interest in national and metropolitan newspapers, after intense lobbying for
3212-598: The company published business-centered magazines including BRW (since December 2013, only published online), AFR Smart Investor , AFR Magazine , AFR Boss , CFO Australia , MIS (magazine) and Asset (Magazine) . Fairfax owned a profitable Australian online subsidiary, Fairfax Digital, which was once known as the F2 Network. Fairfax publishes web editions of most of its newspaper titles, as well as digital only news sites in South East Queensland as
3285-419: The company. Fairfax Media was founded by the Fairfax family as John Fairfax and Sons, later to become John Fairfax Holdings. The Fairfax family lost control of the company in December 1990. It was renamed from John Fairfax Holdings to Fairfax Media in 2007. The Australian Financial Review was founded in 1951. In that decade, Fairfax started two television stations, ATN and QTQ . Fairfax began expanding in
3358-409: The controversial 2013 tax debate regarding taxes for "extraordinary" profits generated by mining companies, major mastheads from regions with high mining interests had almost fourfold the number of negative articles compared to positive articles. The Australian , the biggest national daily, had a large number of both positive and negative articles, but had a limited number of neutral articles. Out of all
3431-402: The criteria of the above and supply their company financials for verification. The BRW Fast Club meet throughout the year to network and discuss topics relating to cash flow management, strategic planning, business expansion, offshore expansion, finance (including managing capital and finding new sources), sales, how to sell your business, and IPOs . Fairfax Media Fairfax Media was
3504-516: The cut-off for making the Rich List was $ 472m AUD. In 2020, the cut-off was raised to $ 540m AUD. During 1975 to 1983, when The Australian widely articulated its political stance on conservative liberalism , it had been noted that the AFR also promoted neo-liberalism through its news coverage and editorials, exerting influence on the business sphere of Australia and its elitist readership base. The newspaper has also been labelled as one of
3577-621: The daily mastheads, the AFR published the most articles surrounding the tax debate and also the most number of neutral articles. In November 2023, the AFR joined with the International Consortium of Investigative Journalists , Paper Trail Media [ de ] and 69 media partners including Distributed Denial of Secrets and the Organized Crime and Corruption Reporting Project (OCCRP) and more than 270 journalists in 55 countries and territories to produce
3650-551: The deal was made, it was reported that Fairfax's portfolio newspapers, including the AFR , would maintain independence from Nine's media groups. As part of the proposed deal, Hugh Marks took over corporate control of the combined group with Fairfax CEO, Greg Hywood , stepping down. The combined entity in 2018 was forecasted to have approximately 6,000 employees (inclusive of all the duplicate roles made redundant), major resources across all media types including print, TV, radio and online; and $ 3 billion in revenue. The proposed merger
3723-405: The driver of Australian business-people's success and ambitions. In 2020, due to the newspaper company's expansion efforts across different readership bases, the AFR reached 2.647m Australians a month. The AFR first introduced its paywall in 2006, charging online users to view its articles – a payment model that had not yet been utilised by any other Australian newspaper firm. The switch to
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#17327755575803796-608: The launch of the news agency Fairfax New Zealand News (FNZ), partly in response to the New Zealand Press Association (NZPA) closure, but also as part of its drive to improve its journalism. In December 2014, Fairfax entered a partnership with local social media platform Neighbourly . In 2016, Fairfax Media sold a number of its key special interest titles, including Boating New Zealand and New Zealand Fishing News magazines. The Australian Financial Review The Australian Financial Review ( AFR )
3869-523: The lead up to the merger, there were a few roadblocks. In 2016, the proposed merger was not feasible due to government legislation surrounding media ownership. In addition, Nine Entertainment's board believed that its share price was undervalued and thus wanted to delay any acquisition until its fair value had been reflected. Amongst the delays in talks between the two parties, Fairfax had other suitors including private equity groups TPG Capital and Hellman & Friedman , which ended up walking away from
3942-487: The passage of changes to Australian media laws. Rival media company News Corp Australia purchased a 7.5 per cent stake in the company at this time, This was with the stated aim of keeping Fairfax in one piece. On 7 December 2006, John Fairfax Holdings and Rural Press announced the beginning of their merger proceedings. Once merged, the new entity formed a publishing company worth A$ 9 billion and resulted in regaining control of The Canberra Times (which it owned in
4015-418: The propagators of radical liberalism during the 1970s–80s, shaping the policy debate surrounding market deregulation at that time. This was in line with the overarching political stance of all Fairfax Holdings owned newspapers, including The Sydney Morning Herald , which in the 1970s was also right-leaning in its political views. In the wake of the 1987 stock market crash , the Australian news media sector
4088-477: The radio assets of Southern Cross Broadcasting . Macquarie Media Group purchased Southern Cross for A$ 1.35 billion and onsold these assets to the Fairfax Group. On 26 August 2007, Kirk and Deputy CEO Brian McCarthy announced that 550 staff would be cut as part of a "business improvement" programme. The staff reductions would take place in both Australia and New Zealand, with the latter country bearing
4161-408: The remaining 15% from minority shareholders. Allure Media own a range of websites, including the Australian licenses for Business Insider, Lifehacker, Gizmodo, and Kotaku. In 2014, Fairfax Media founded online streaming company Stan with Nine Entertainment , investing $ 50 million into the joint venture. In December 2014, Fairfax merged with Macquarie Radio Network . Under the deal, Fairfax gained
4234-459: The right to increase his stake, Black conceded defeat in 1996, selling his holding to the New Zealand corporate raider Brierley Investments , that was ultimately subject to the same restrictions. In 2003, Fairfax acquired many of New Zealand's highest-profile newspapers when it bought the publishing assets of that country's Independent Newspapers Limited , whose cornerstone shareholder
4307-457: The sponsorship of the City to Surf to its new Sunday tabloid The Sun-Herald which also replaced the broadsheet Sunday Herald . In 1987, Warwick Fairfax , then aged 26, bought out his family's holdings in the company using borrowed debts. He successfully took ownership of the company, selling some properties to his half-brother John B. Fairfax, who formed Rural Press . On 10 December 1990,
4380-424: The table. In 2018, Nine Entertainment's board re-entered into talks with Fairfax of a potential merger after its share price had jumped following an upbeat earnings report. The proposed structure of the takeover was 0.3627 Nine shares plus $ 0.025 AUD per Fairfax share, composing a cash plus scrip deal. This represented a 21.9% takeover premium to Fairfax's last close, and valued Fairfax at $ 2313.8mm AUD. Once
4453-429: The takeover of Fairfax Media by Nine Entertainment , in 2019 is merged with the latter's CarAdvice platform. In March 2016, many staff from its newspaper divisions went on a 4-day strike over planned job cuts of 120 editorial staff from The Sydney Morning Herald , The Age and The Australian Financial Review . All printed and digital editions continued during the action. On May 18, 2017, Hellman & Friedman made
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#17327755575804526-490: The top job at UK Pest control company Rentokil after negotiations with Fairfax broke off. In March 2006, Fairfax acquired New Zealand auction website Trademe.co.nz for NZ$ 700 million. On 4 March 2006, it was announced that Fairfax would purchase The Border Mail newspaper in Albury-Wodonga for A$ 162 million. In October 2006, speculation began to grow that the company would be bought out and split up after
4599-688: Was News Corp Australia . In July 2005, Fairfax acquired the RSVP dating site for A$ 38 million. In August 2005, Fairfax's general classifieds site created in March 2004, Cracker.com.au consistently exceeded 500,000 unique visitors a month. In December 2005, Fairfax acquired Stayz Pty Ltd for A$ 12.7 million. This investment proved to be successful as Stayz was sold on 27 November 2013, for $ 220 million, exceeding its estimated net debt of $ 154 million. In September 2007, Fairfax acquired online funds management business, InvestSMART, from founders Ron Hodge and Nigel Poole for A$ 12M. In August 2013, Fairfax sold
4672-510: Was also put under review by the Australian Competition & Consumer Commission (ACCC) on antitrust measures. It was announced in November 2018 that the ACCC would not oppose the merger. The investigation looked at the merger's impact on the online news industry's competition and involved contacting numerous stakeholders. It was noted that the merger would most likely reduce competition in the domestic media market, but that it
4745-402: Was also released, which helped to expand its readership base across all media. The AFR , along with most of Fairfax Media , was purchased by Nine Entertainment in 2018. The Australian Financial Review newspaper started as a weekly publication in 1951, published by John Fairfax & Sons . The paper's main objective was to inform the Australian public on business life and news. In 1961,
4818-410: Was blamed for overlooking corporate corruption and wrongdoings, while publishing mainly favourable news articles handed to them from corporate PR teams. Also during this time, The National Times which was Australia's leading financial investigative journalism newspaper, shut down after the stock market crash. Therefore, during the 2000s, following the financial market failures and economic downturn of
4891-403: Was delisted from the Australian Securities Exchange in December 2018. Its metro publishing assets continue to be published by the group as Nine Publishing . Many of its other assets, such as its community media holdings were sold shortly after the merger was completed. John Fairfax purchased The Sydney Morning Herald in 1841. Several generations of the Fairfax family continued to control
4964-412: Was denied a place on the board because she would not agree to Fairfax's charter of independence, and sold her stake in 2015. On 18 June 2012, as part of evolving to a sustainable model for its news media business, Fairfax Media announced it would cut 1,900 staff and begin to erect digital paywalls around its two main metropolitan news brands, The Sydney Morning Herald and The Age . It also announced it
5037-453: Was named Fairfax New Zealand Limited until 2018, when it was renamed Stuff Limited to align with the name of its flagship website . It was sold to its CEO Sinead Boucher in a management buyout for $ 1 NZD in 2020. Parent company Nine retained most of the proceeds of the sale of Stuff's broadband subsidiary to Vocus Group , and maintained control of its Wellington printing press operation. On 1 September 2011, Fairfax New Zealand announced
5110-517: Was not in breach of the Competition and Consumer Act . The main point of divergence between the two business' assets was that Nine Entertainment's news assets provided mass market news coverage whereas Fairfax Media's news assets provided more specialist coverage. Despite the ACCC's ruling, there were a few stakeholders who voiced their concerns about the merger's impact on the Australian media industry's competitive landscape. Union groups such as
5183-413: Was priced at $ 37.84 AUD. As a result, the AFR has since lowered its digital subscription price to $ 29.50 AUD. The mega-cap deal that saw Nine Entertainment and Fairfax Media merge was inspired by initial chats between Hugh Marks (Nine CEO) and Nick Falloon (Fairfax chairman). The pair discussed how the two companies' assets could synergise, improve efficiencies, save costs and increase scale. During
5256-440: Was shifting to "compact" or tabloid-sized editions of the broadsheet newspapers from March 2013, and that its two printing facilities at Chullora and Tullamarine would close. The changes, prompted by shrinking advertising revenue, were expected to generate A$ 235 million in annual savings over three years. In 2012, Fairfax Media acquired Netus Pty Ltd, a technology investment company which owned 85% of Allure Media, and purchased
5329-401: Was sufficient. On the other hand, all other daily mastheads needed company advertising to stay profitable. This afforded the AFR 's editors the flexibility to pursue and publish news articles that shed a negative light on major companies without needing to be concerned about its financial impacts. In the early 2010s, the AFR 's political stance has been labelled as neutral. During
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