Fairfax focussed on future: AGM

Fairfax CEO Greg Hywood has addressed the Annual General Meeting of Fairfax Media Limited saying that it has been a year of extraordinary activity with the company delivering structural and operational change.
Not surprisingly, the presentation focussed on the changes to the structure of  Fairfax’s newspapers, along with innovation in it’s digital assets and development of new opportunities such as Content Marketing and an Events business.
Hywood said “We are well into the transformation of Fairfax from a Newspaper business established in the 19th Century to a modern, 21st Century digital and print media business with the structures, quality of people, adaptive capabilities and business model that will thrive into the future’.
Whilst  overall, Group revenues are down 6% compared to last year, the broadcasting arm of Fairfax Media is in line with the previous year’s result.
There has been no sustained uplift in the advertising market post Federal election. Cost saving programs are reportedly tracking ahead of target.
Greg Hywood told shareholders at the AGM that the Fairfax Radio Network reaches almost 2 million Australians in key metropolitan markets, but there was no specific reference any potential changes to the Network – nor any mention of a rumoured merger with John Singleton’s MRN.
Read the CEO’s complete presentation here: