FXJ - Fairfax Media

[Vesupria]

Leaving aside your first paragraph, that's a sensible and logical post.
Great points. I agree.
Still think she could bring considerable expertise and skill to the ailing Fairfax, but hell, I don't really care.
I'm not a reader of their products and am not a shareholder.

You are probably interested, like me, on a human interest level. I don't mind seeing personalities of all sorts trying to overcome new challenges. Good on her for having a go, whatever her motives, I am sure the ride will be an interesting one to watch. I am sure she knows at least what a great challenge it will be, I agree with you that she isn't stupid enough to not realise that much.

Good luck to all holders, especially those who picked it up on the back of recent events.

[Garpal Gumnut]

I'm still considering investing some lazy money in FXJ, it is up and down like the proverbial bride's nightie.

Could we possibly have some comment from our senior chartists.

Even when I invert the chart y axis, I still cannot see a technical reason to buy, but it is a compelling action play by Gina.

Could tech/a possibly comment or one of our other senior or not so senior chartists.

gg

[MrBurns]

If Rinehart gets her way it will improve, if she dumps the shares it's finished.

The people in there arent good enough by a long shot.

[Garpal Gumnut]

If Rinehart gets her way it will improve, if she dumps the shares it's finished.

The people in there arent good enough by a long shot.

Thanks Burnsie,

That is my main fundamental worry.

If she dumped now, FXJ would be just one week away from administration.

gg

[MrBurns]

If she dumped now, FXJ would be just one week away from administration.

gg

And she could do just that, my information is that things arent exactly on the level in there.

[Garpal Gumnut]

And she could do just that, my information is that things arent exactly on the level in there.

Jeez Burnsie,

I don't need to hear this, I have a provisional order in on Monday open for 20

Please expand.

gg

[MrBurns]

Jeez Burnsie,

I don't need to hear this, I have a provisional order in on Monday open for 20

Please expand.

gg

Cant really go into detail gg but she will have a hell of a job straightening it out.

Too many people in there on the gravy train using the company to their own benefit.

On the other hand the restructure can only be a good thing and improve profitability, I'm suprised the market didnt react more positively.

The restructure and the presence of Gina made me think I should buy in now, but I rarely get it right, if I stay out you'll be ok.

I think it's a fair punt gg.

[numbercruncher]

I dont get how Gina purchasing Fairfax can automatically change its fortunes as it seems some predict ? Her quest to control fairfax is possibly about power or reach not money as she makes money from mining and obvioulsy she has a personal political leaning agenda.

I guess you could take some solace from corporations law that a board member must act in the best interests of all shareholders.

It matters not who owns fairfax it wont all of a sudden inspire people to buy printed text - the board screwed up by not embracing digital media over a decade ago - all that being said Fairfax has potential as a punt perhaps ? And if they started charging for digital papers would many buy considering the enormous amount of free content available ?

Certainly the board has realised the monumental errors of judgement in the past and must be working on strategies for the future I just cant put my finger on how Ginas foray into this industry can be measurably more positive.

[McLovin]

I dont get how Gina purchasing Fairfax can automatically change its fortunes as it seems some predict ? Her quest to control fairfax is possibly about power or reach not money as she makes money from mining and obvioulsy she has a personal political leaning agenda.

I guess you could take some solace from corporations law that a board member must act in the best interests of all shareholders.

It matters not who owns fairfax it wont all of a sudden inspire people to buy printed text - the board screwed up by not embracing digital media over a decade ago - all that being said Fairfax has potential as a punt perhaps ? And if they started charging for digital papers would many buy considering the enormous amount of free content available ?

+1

Rinehart's investment in FXJ is less than 1% of her net worth. I imagine the time she devotes to FXJ will be commensurate with that, except when she wants to play her hand in editorial matters. I have more faith in the remaining instos, especially Allen Gray, getting some shake-up in the business than I do Rinehart. I have as much confidence in Rinehart's ability to oversee a media company as I do Rupert Murdoch's ability to run a mining company.

Certainly the board has realised the monumental errors of judgement in the past and must be working on strategies for the future I just cant put my finger on how Ginas foray into this industry can be measurably more positive.

I think the board to this point has been useless and while Corbett is chairman, will remain that way.

[MrBurns]

Rinehart has shown her intentions now and may dump her Fairfax shares, gg if you're observing I would get out now if it isn't too late, even if she succeeds I cant see her doing anything for Fairfax other than destroying it.

She has also bumped her share in Ch10 I think , after watching 4 corners last night that she is a bit out of touch and thinks her money will buy her anything, well it might have if she was clever about how she used it but the way she's going about this will mean she will fail and take those she's involved (FXJ) with her.

Now after having said all that it's just my opinion which is not based on anything but gut feel, dont rely on my opinion, I have learned to view it with caution

[notting]

She is not someone who likes to lose.
Dumping her shares would give her that taste and she will battle hammer and tong to keep her winning image.
She has so many people blowing smoke up her @rse because of all those billions she is far more likely to be bluffing and will take out the company not thinking the brand would be harmed.
Her battles with Rose Porteous and now her own children are legendary.
She will buy the whole thing!

[Reaperman77]

What would actually happen if Gina dumped her ~19% stake in Fairfax? Obviously a huge over supply and a marked drop, but would it spike up again as buyers come back in at 'discount' prices?

Her reasoning in dumping would also play a part, if its known it was for political reasons rather than business would that inspire more confidence?

[Calliope]

What would actually happen if Gina dumped her ~19% stake in Fairfax? Obviously a huge over supply and a marked drop, but would it spike up again as buyers come back in at 'discount' prices?

Her reasoning in dumping would also play a part, if its known it was for political reasons rather than business would that inspire more confidence?

Follow Gina;

456053-120627-nicholson-cartoon.jpg

[MrBurns]

And the latest knee jerk reaction is.........might be time to buy, Gina is cracking the whip and this might be just what Fairfax needs -

http://www.abc.net.au/news/2012-06-2...airman/4101256

Mining billionaire Gina Rinehart has asked the chairman of Fairfax Media to resign if he cannot reverse falling circulation and revenue at the company's newspapers.

In an open letter to Roger Corbett, Ms Rinehart asked him to step down by November if a number of performance milestones had not been met.

Ms Rinehart is the largest single Fairfax investor with nearly 19 per cent of the company's shares.

In her letter to Mr Corbett, Ms Rinehart said the performance of Fairfax Media over the past five years had been distressing for shareholders.

She called for the Fairfax share price to rise from current levels of 55 cents to 87 cents before November's annual general meeting.

"Shareholders should at the very least be advised what the loss target is, and be assured that should you not meet that target, there would be light at the end of tunnel," the letter said.

"And, if the five-year decline in paid circulation and in revenue of Fairfax mastheads do not reverse prior to the 2012 AGM, we ask that you tender your resignation at that meeting."

[notting]

Mining billionaire Gina Rinehart has asked the chairman of Fairfax Media to resign if he cannot reverse falling circulation and revenue at the company's newspapers.

I think she's trying to be Packer!
It worked for him, it'll work for me!
Lunatic.

[Logique]

I wonder if has occurred to the illuminati at Fairfax, that their hysteria over Gina Rinehart's supposed hijacking of editorial policy is tantamount to an admission that editorial bias is possible.

Where is the evidence of their claims against her? They are in effect calling her a liar.

It's an unprofitable, unaccountable, sheltered workshop, patrolled by thought police. Go Gina.

[Logique]

Bon mots from Bolt. Even with a (hypothetically) balanced Fairfax, the Left are still way ahead.

http://blogs.news.com.au/heraldsun/andrewbolt/
[Martin] Flanagan [The Age] trembles:
Any national media reflects the national mind. Within a few years, we could have a national mind dominated by Rupert Murdoch, Gina Rinehart, talkback radio hosts and tabloid newspaper columnists..

..But trust me: with the Left still dominant in the ABC, SBS, Australia Council, universities, Fairfax, publically-funded think-tanks, journalist union, Canberra press gallery, Anglican bishops’ conventions, writers festivals and, indeed, even the newrooms of most of the papers and TV stations owned by wicked Right-wing oligarchs, you’ve got such a head start, that you’d have to be pretty bad to lose it from here....

Not to mention the Teachers, when they're not on strike.

[Superb Parrot]

It's an unprofitable, unaccountable, sheltered workshop, patrolled by thought police. Go Gina.

Well said. It amuses me to see that the letters (in the SMH) are selected to reinforce the bias of the journalists. I just wonder how representative the letters are, it would be very interesting to sit in on the selection process.

[Julia]

I wonder if has occurred to the illuminati at Fairfax, that their hysteria over Gina Rinehart's supposed hijacking of editorial policy is tantamount to an admission that editorial bias is possible.

Where is the evidence of their claims against her? They are in effect calling her a liar.

It's an unprofitable, unaccountable, sheltered workshop, patrolled by thought police. Go Gina.

Bon mots from Bolt. Even with a (hypothetically) balanced Fairfax, the Left are still way ahead.
Not to mention the Teachers, when they're not on strike.

+1 to both above.

[Calliope]

Roger Corbett says;

"If Mrs Rinehart wants control of Fairfax Media she must make a bid," the letter said. "Mrs Rinehart's letter today has once and for all unmasked her motives for her continual attacks on the company and its board.

"Our readers are telling us that if Mrs Rinehart succeeds in this personal crusade they will abandon us. We have tens of thousands of letters and emails of support."

Where would the poor things go.