FXJ - Fairfax Media

[notting]

Gina Rinehart - picked up 10% and the market loved it!
It's a positive sign - stupidity is back with avengence! :silly::bloated:

 

[Garpal Gumnut]

Gina Rinehart - picked up 10% and the market loved it!
It's a positive sign - stupidity is back with avengence! :silly::bloated:

Hopefully for Fairfax holders the quality of independent journalism will improve with the share price following Gina's tilt at the stock.

Presently The Age, for example, is a poor daily imitation of Green Left Weekly and needs a strong owner to restore credibility, professional journalism and readership.

FXJ holders may then be joined by other investors interested in making a quid from the stock.

gg

 

[Calliope]

Hopefully for Fairfax holders the quality of independent journalism will improve with the share price following Gina's tilt at the stock.

Presently The Age, for example, is a poor daily imitation of Green Left Weekly and needs a strong owner to restore credibility, professional journalism and readership.

FXJ holders may then be joined by other investors interested in making a quid from the stock.

gg

It's a terrifying prospect for some . . . a capitalist wants to put her money into newspapers!

http://www.theaustralian.com.au/new...-into-newspapers/story-fn72xczz-1226260003588

 

[Julia]

Gina might be a bit disappointed if she thinks buying a large chunk of Fairfax will allow her to swing editorial slant her way. Could be an interesting battle ahead.

 

[Gringotts Bank]

Primed for a small run, so long as it can break 75 and it would probably need to make that break today or tomorrow otherwise back to form a triple bottom at 69. If it breaks, target 79-85.

 

[Garpal Gumnut]

There are rumours about that Gina Reinhart may be ready to increase her stake in FXJ.

I have no proof of this and no charting confirmation.

FXJ languishes at 60c.

I will watch price and volume at the open tomorrow and decide accordingly whether to follow any move up, or watch the present inexorable slide.

gg

 

[Garpal Gumnut]

There are rumours about that Gina Reinhart may be ready to increase her stake in FXJ.

I have no proof of this and no charting confirmation.

FXJ languishes at 60c.

I will watch price and volume at the open tomorrow and decide accordingly whether to follow any move up, or watch the present inexorable slide.

gg

Oops , I've just noticed its in in the Australian.

INVESTORS are betting Gina Rinehart has upped her stake in Fairfax Media after a $25 million line of shares was traded.

Just after midday, 42 million shares changed hands at 60c a share worth $25.2 million, with sources tipping Ms Rinehart as the buyer. Another 7 million shares went through at 62c a share just after 3pm (AEST) today.

Ms Rinehart is believed to have bid for up to 20 per cent of the company indicating she could still be in the market looking to buy more stock. The sellers are said to be multiple local institutions, with the trade handled by Southern Cross Equities.

Ms Rinehart is the media company's largest shareholder, previously holding 13 per cent of the stock.

I may put a few kopeks in to FXJ in the am.

gg

 

[Julia]

Oops , I've just noticed its in in the Australian.
I may put a few kopeks in to FXJ in the am.

gg

Roger Corbett is very opposed to her, so if it were me, I'd be waiting to see how her attempt comes out before sinking any money in that direction.
Plus the fact that conventional media is imo on a downward slide, especially Fairfax with its woeful staff morale.

 

[ROE]

Roger Corbett is very opposed to her, so if it were me, I'd be waiting to see how her attempt comes out before sinking any money in that direction.
Plus the fact that conventional media is imo on a downward slide, especially Fairfax with its woeful staff morale.

I found it ridiculous someone who has 13% cant get a seat... She OWNS 13% of the business she entitle to a seat

Whether she is independent or against the government or what ever is another story...as a capitalist economy
someone with that much interest in a business entitle to a seat and voice how she want the company run

there are other people on there to agree and disagree with her....

I have high regard for Roger Corbett but I disagree he wont allow her a seat ....

 

[Garpal Gumnut]

Roger Corbett is very opposed to her, so if it were me, I'd be waiting to see how her attempt comes out before sinking any money in that direction.
Plus the fact that conventional media is imo on a downward slide, especially Fairfax with its woeful staff morale.

I found it ridiculous someone who has 13% cant get a seat... She OWNS 13% of the business she entitle to a seat

Whether she is independent or against the government or what ever is another story...as a capitalist economy
someone with that much interest in a business entitle to a seat and voice how she want the company run

there are other people on there to agree and disagree with her....

I have high regard for Roger Corbett but I disagree he wont allow her a seat ....

Corbett and Co. are old money, and we are in the new age of Aquarius.

I bet Londinium to a brick he will be gone within 2 months.

I will buy tomorrow, and as the bard said

This day is called the Feast of Crispian.
He that outlives this day and comes safe home
Will stand a-tiptoe when this day is named
And rouse him at the name of Crispian.
He that shall see this day and live t' old age
Will yearly on the vigil feast his neighbours
And say, "Tomorrow is Saint Crispian."
Then will he strip his sleeve and show his scars
And say, "These wounds I had on Crispin's day."
Old men forget; yet all shall be forgot,
But he'll remember, with advantages
What feats he did that day. Then shall our names,
Familiar in his mouth as household words ””
Harry the King, Bedford and Exeter,
Warwick and Talbot, Salisbury and Gloucester ””
Be in their flowing cups freshly remembered.
This story shall the good man teach his son,
And Crispin Crispian shall ne'er go by
From this day to the ending of the world,
But we in it shall be remembered,
We few, we happy few, we band of brothers.
For he today that sheds his blood with me
Shall be my brother; be he ne'er so vile,
This day shall gentle his condition.
And gentlemen in England now abed
Shall think themselves accursed they were not here,
And hold their manhoods cheap whiles any speaks
That fought with us upon Saint Crispin's Day.

St.Crispins Day is October 25th, and it will end by then.

These FXJ muppets including Corbett have overseen a decimation of the share price.

I have never been attracted to it because of the old and leftist money associated with Fairfax.

I will buy, not at the open but shortly after, tomorrow.

gg

 

[Garpal Gumnut]

I did not buy today. There was not much to the bar, although it was up, as I post at 3.13pm

Volume is good, but I feel Gina will let these guys broil, she will do them slowly and the price may retreat further.

Fibonacci levels may be useful. I will examine over the w/e.

However if in the next 46 minutes volume and price go ballistic I will be in like Flynn.

gg

 

[MrBurns]

Well Rinehart isnt stupid is she, almost looks like insider trading, did she know Fairfax were going the make such big changes ?

 

[McLovin]

Talk is cheap. They can say they will do all these things but so far management has shown itself to be woefully ill equipped to handle the internet and how it affects their business. I'll believe it when I see it for myself. I don't think a mining magnate or a grocer are what the board of FXJ needs.

 

[MrBurns]

Talk is cheap. They can say they will do all these things but so far management has shown itself to be woefully ill equipped to handle the internet and how it affects their business. I'll believe it when I see it for myself. I don't think a mining magnate or a grocer are what the board of FXJ needs.

Agreed, they are too busy in there covering their own backs, they'll never bring the right people in to do the job properly.

 

[McLovin]

Agreed, they are too busy in there covering their own backs, they'll never bring the right people in to do the job properly.

It was always going to happen. You had a 150 year old company that had relied on its rivers of gold (classified advertising) and didn't need to really worry about much else. Those sort of companies generally do the worst when the goal posts shift. They're just not used to change or adapting.

 

[skc]

Well Rinehart isnt stupid is she

The jury is still out on this one imho.

 

[basilio]

Great power play by Gina Rinehart. Getting editorial control of the Fairfax Press would destroy any semblance of non right wing commercial press in Oz.,

It would guarantee the next election would be a Tony Abott cakewalk with Gina Rinehart making absolutely sure the interests of the mining sector were attended to. Thats something for the Liberal party to look forward to - dealing with Ms Rineharts perception of what is good for Australia..

 

[MrBurns]

Great power play by Gina Rinehart. Getting editorial control of the Fairfax Press would destroy any semblance of non right wing commercial press in Oz.,

It would guarantee the next election would be a Tony Abott cakewalk with Gina Rinehart making absolutely sure the interests of the mining sector were attended to. Thats something for the Liberal party to look forward to - dealing with Ms Rineharts perception of what is good for Australia..

I think she might be more about making sure Fairfax is neutral , if she bent it toward her own interests it would be too obvious and EVERYONE will be looking for her to do exactly that.

 

[Garpal Gumnut]

This is bad news for many workers and families in Melbourne and Sydney, due to a derelict board and left wing journalists using two great newspapers, the SMH and the Age as a glorified cookie jar and a Twitter.

The board will be sacked with executives, the print workers will be hung out to dry, and the leaders of the left wing cabal at the SMH and the Age will slink off to work on the public purse. The other journalists will go on the dole.

FXJ is still a tenuous buy for an investor.

Gina Rinehart can only be good for the company.

Vale the SMH and the Age.

Howard's battlers will regroup for the next election.

gg

 

[Julia]

I don't think a mining magnate or a grocer are what the board of FXJ needs.

No? Despite the proven business experience which contrasts pretty strongly with Fairfax's stuffup?

What do you think is in fact what Fairfax needs to lift it out of the mire?

Great power play by Gina Rinehart. Getting editorial control of the Fairfax Press would destroy any semblance of non right wing commercial press in Oz.,

Of it might just turn a left wing organ into something representing centrist objectivity.