Fairfax recovery sees shares hit 12 month high

Tim Burrowes

May 15, 2013 8:09

Shares in Fairfax Media today reached their highest point in 12 months and almost double the price of their low point just over six months ago.

The share price of 67c on the ASX values the company at almost $1.6bn.

The company’s share price has undergone a steady recovery since October when its price dipped to 36 cents, valuing the company at less than $1bn.

The last time the company’s share price hit 67c was May 29, 2012.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.

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3 COMMENTS

Me 16 May 13

Can’t be revenue based recovery – if Reinhart and friends weren’t propping up the share price, buying in for whatever insidious reason, it’d be in the s-bend, not just the toilet.

Tim, run a graph of their online traffic next to print circulation from the last two years. Cutting to the bone is impacting readership, both in print and online.

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Me (Again) 16 May 13

Annnnnd, it’s gone

http://www.google.com/finance?cid=670505

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Ex reader 16 May 13

The market values the company at less than three times its recent EBITDA. The market plainly expects the worst.

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