Fairfax not for sale
It almost got lost this week, however tucked away in all the noise around the Fairfax financials this week were some important comments from Chief Executive Greg Hywood regarding the radio assets of the group.
Speaking about the Fairfax radio assets, Hywood has told The Australian;
"There's no for-sale sign around the business, there's improved market share and clear upside and good management. It's operating as a genuine national network."
"Our balance sheet doesn't need us to sell another asset (but) if someone comes in and offers us some sort of bizarre price you always have to worry about value for shareholders"
No doubt John Singleton will be reading Hywood's comments with interest given his well documented desire to acquire the Fairfax radio assets.
Singleton has had a good week. Following a strong result for the Maquarie Radio Network, and a healthy dividend on offer, the share price improved 16% in 3 days to the close of trade on Friday.