Yesterday's sale of Fairfax's Southern Star TV production and distribution business to production giant Endemol has signalled speculation that the new CEO, Brian McCarthy, could put the radio network on the market.
Fairfax who went on a $4.5 billion spending spree under their former CEO, David Kirk, are keen to get their balance sheet down and wipe much of the current $2.4 billion debt out.
It has been suggested the radio network which includes 4BC, 6PR, 96fm, Magic 1278, 4BH, 2UE and 3AW could be sold at a discount to the $330 million Fairfax paid in 2007. Citi analyst Digby Gilmour placed a current valuation of $148 million on the radio network, purely based on projected earnings over the next 18 months. Related item
Could Fairfax sell their radio network?
Tuesday, January 20, 2009 | Labels: Radionews |
Yesterday's sale of Fairfax's Southern Star TV production and distribution business to production giant Endemol has signalled speculation that the new CEO, Brian McCarthy, could put the radio network on the market.
Fairfax who went on a $4.5 billion spending spree under their former CEO, David Kirk, are keen to get their balance sheet down and wipe much of the current $2.4 billion debt out.
It has been suggested the radio network which includes 4BC, 6PR, 96fm, Magic 1278, 4BH, 2UE and 3AW could be sold at a discount to the $330 million Fairfax paid in 2007. Citi analyst Digby Gilmour placed a current valuation of $148 million on the radio network, purely based on projected earnings over the next 18 months. Related item
Fairfax who went on a $4.5 billion spending spree under their former CEO, David Kirk, are keen to get their balance sheet down and wipe much of the current $2.4 billion debt out.
It has been suggested the radio network which includes 4BC, 6PR, 96fm, Magic 1278, 4BH, 2UE and 3AW could be sold at a discount to the $330 million Fairfax paid in 2007. Citi analyst Digby Gilmour placed a current valuation of $148 million on the radio network, purely based on projected earnings over the next 18 months. Related item
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