Fairfax won’t sell radio assets

Staff Writer

Fairfax Media boss Roger Corbett has said they are not looking to sell their radio assets, which include 2UE and 3AW.

"Our radio business is a very good business and it's been extremely well managed and I think it's got quite an upside for Fairfax in the future," Mr Corbett told Sky News Business.

With their share price slipping to a low of 50c at one point yesterday, Fairfax still need to reach 87c by November's AGM or agree to performance milestones, if Gina Rinehart gets her way.

"I'm not going to comment on Gina Rinehart's comments," Mr Corbett said. "She's entitled to make those comments. Fairfax shares have performed much in line with other media stocks around Australia."

"Very clearly there's a transitional period that we're going through. The people are well aware of the risks involved in that transition. Whilst we would like our shares to perform better we are doing our very best to manage that process."

Read more in The Australian here (subscription required)

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