It seems Rural Press majority shareholders John B. Fairfax and Tim Fairfax have realised their long-term ambition to get back a big slice of the family business with the announcement of a proposed merger between Fairfax and Rural Press.
In the announcement to the ASX, Fairfax Media’s chief executive David Kirk talks at length on the importance being placed on acquisition of the Rural Press flagship The Canberra Times.
It’s been a long struggle for John B. and Tim to build their media assets up to the point where they could partially undo the damage done by Warwick Fairfax in the 1980s, although their single-minded focus on costs has resulted in some rather damaged newspapers (including The Canberra Times), according to most observers.
Time for Riotact’s traditional Canberra Times bagging to begin …
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