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paulwiggins
 Post subject: Fairfax and Rural Press to merge
PostPosted: Tue Dec 05, 2006 6:24 pm 
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Joined: Wed Oct 08, 2003 12:01 am
Posts: 3137
Location: Homebush NSW Australia
Presented without comment:

Dear Colleagues



This morning, I am very proud to announce the proposed merger of Fairfax Media with Rural Press Limited.
These two outstanding companies are joining to create the largest integrated metropolitan, regional and rural print and digital media business in Australasia.
Fairfax Media will now extend from Western Australia to New Zealand, with some publications in the US as well.
It is an excellent fit that will drive further growth in the years ahead.
We will also aggressively develop digital business opportunities throughout regional and rural Australia.

By adding an extensive portfolio of strong growth regional and rural publications to what we have, Fairfax Media is substantially more diversified and balanced.
We are proud to add The Canberra Times to our roster of mastheads, and we look forward to being the publisher of the daily newspaper in the nation’s capital.
As you can see, together Fairfax Media and Rural Press will be stronger as one company than either could be alone.
We will also benefit from Rural Press’ excellent management team. Brian McCarthy, the CEO of Rural Press, will join Fairfax Media as Deputy CEO and CEO, Australia, responsible for metropolitan, regional, rural and magazine publishing and printing in Australia. The NSW and Victorian publishing businesses and magazines will report to Brian.
Fairfax Business Media, Fairfax Media New Zealand, Fairfax Digital and Trade Me will continue to report to me. The Editorial Board, which I chair, will continue unchanged.
The proposed merger is pursuant to a Scheme of Arrangement, which we aim to complete next April.
Throughout this year, I have outlined to you our strategy of defending and growing our newspaper business, rapid growth in digital, and building a digital media company.
Our proposed merger with Rural Press advances all aspects of this strategy.
Sincerely,
David Kirk,
CEO
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