Fairfax Media chairman Roger Corbett has told Sky News, “our radio business is a very good business and it’s been extremely well managed. I think it’s got quite an upside for Fairfax in the future,” further dampening speculation that the company’s radio assets are still for sale.
The Fairfax board has been under continued pressure from major investor Gina Rinehart to sell the radio assets, as part of her ongoing campaign to win board influence in the company. Macquarie Radio owner John Singleton has also stoked the speculation, saying several times that his company would be a buyer for Fairfax Radio.
With the continuing decline of newspaper ad revenue, Corbett told Sky News Business the radio and online assets of the company will “spread to other sources of advertising… we are working very hard to maintain the quality of our newspapers within the cost constraints we’ve got and making our internet sites as good as we possibly can.”