Fairfax Media Limited has released the 2018 Annual Report to shareholders.
The report, which could be the last before the proposed merger with the Nine Network, shows a company in good shape.
With a $124.9m underlying net profit, a partially franked dividend of 2.9 cents per share, and $260m cachflow from trading Chaiman Nick Falloon says “Our businesses are
focused on driving growth and building shareholder value.”
Fairfax owns 54.5% of Macquarie Media with 2GB and 3AW leading in their respective markets. 4BC, 6PR and the new Macquarie Sports Radio franchise are also part of Macquarie Media.
Nick Falloon says the proposed merge between Fairfax and Nine will bring together strategies that are already aligned to make use of expanded audiences and marketing inventory to drive growth.
Fairfax expect the merger will achieve greater scale and relevance to advertisers and increase advertising market share.
Nick says other benefits are the “Strengthening Domain’s brand and geographic footprint, increasing Stan’s flexibility and optionality for new strategic partnerships and maximising cross-promotion ratings benefits across Macquarie Media and Nine.”
Fairfax place a value of just over $103 M on their radio licences as part of their Intangible Assets
It is still unclear whether or not Macquarie Media will remain part of the merger between Fairfax and Nine