Australia's Packer declares intention to wrest control of Fairfax from Black

Article Abstract:

Australian billionaire media magnate Kerry Packer recently announced plans to gain control of Fairfax Holdings Ltd. (Fairfax). The announcement, made during a 30-minute interview, surprised many observers as Packer is normally guarded when it comes to his business plans. He has already amassed a substantial number of Fairfax shares and observers are speculating that Packer is positioning himself for a takeover if Australia's present restrictions on media cross-ownership are eventually lifted.

Financial Holding Companies, Offices of Bank Holding Companies, Holding Offices, Holding companies, not elsewhere classified, Financial Holding Companies NEC, Offices of Other Holding Companies, Planning, Holding companies, Packer, Kerry, Fairfax Financial Holdings Ltd.

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Black's Hollinger sells controlling Fairfax stake to Brierley

Article Abstract:

Canadian publisher Conrad Black has sold his 25% share in John Fairfax Holdings Ltd. to Brierley Investments Ltd. for about A$553.8 million or US$439.2 million. Although Brierley's acquisition has been approved by the Australian government, Australian laws bar the company from acquiring over 19.9% shares without making an offer for all Fairfax shareholders. Black had demanded that his Hollinger International Inc. be given a chance to increase its shareholdings to 51%.

Australia, Finance, Buy-sell agreements, Black, Conrad

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Fairfax attracts followers, despite its recent turbulence

Article Abstract:

John Fairfax Holdings is becoming more favorable to investors and investment advisers alike because the company is beginning to post higher profit margins and increased classified advertising. The company's biggest challenge is the expectation that the domestic economy may weaken in the 1998 fiscal year but investment advisers believe that the company's new CEO is up to the task.

Investment advice, Investment Advisory Services, Reports, Investment advisers

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