Fairfax Rival News Limited reports: FAIRFAX Media remains confident of its ability to cut costs and generate enough new revenue to avoid a “bleak future” despite seeing its first-half net profit halved. Investors reacted positively to the results, sending shares up 22 per cent in morning trading to 87c despite the company posting a net profit of $193.8 million, a 49.8 per cent fall from the $386.3m recorded in the previous corresponding period.