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Fairfax Media confirms private equity bid for flagship titles

Guardian Australia  |  08 May 2017  |  Investing


Fairfax Media
has confirmed private equity company TPG Capital has made an unsolicited approach to buy its three key metro newspapers and online real estate arm Domain.

The US-based firm has put forward a proposal to buy the Sydney Morning Herald, the Age and the Australian Financial Review, along with Domain, in a deal estimated to be worth about $2.5bn.

Fairfax Media’s chief executive, Greg Hywood, held meetings at the company’s Pyrmont headquarters on Sunday and wrote to staff in the evening confirming the proposal.

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He said it was a “preliminary indicative” proposal and was still subject to a number of conditions including approval by the Foreign Investment Review Board, Fairfax reported on Sunday night.

Read More: https://www.theguardian.com/media/2017/may/08/fairfax-media-private-equity-bid-smh-the-age-financial-review-domain?CMP=soc_568

 

 

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