Fairfax sale teeters as private equity house TPG withdraws from bidding

July 2, 2017 8:17

The sale of Fairfax Media appears to be on the verge of collapse, with one potential bidder failing to make an offer and the other withdrawing from the process.

TPG Capital – the private equity firm which kicked off bidding for the media company with a preliminary offer worth nearly $2.5bn – has decided not to proceed after getting a look at the current state of Fairfax’s books, the Australian Financial Review reports.

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Abigail Dawson

Abigail Dawson was Mumbrella's senior content journalist covering event content. She left Mumbrella to move into an agency role in 2020.

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3 COMMENTS

Numbers 3 Jul 17

The Domain fizz has gone flat. The news staff have been sacked. What’s left? A vastly overpaid management and a seriously out of touch board of directors.

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liam 3 Jul 17

Very telling that both bidders have pulled out after taking a long hard look at the books. Suggests all is not as rosy as claimed with Domain and no doubt also confirmed the parlous state of the Fairfax mastheads. This could be a real turning point in Fairfax fortunes….

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Investor 3 Jul 17

The revenue indicators put out today by Hywood are shocking. This business is tanking.

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