Fairfax posts $16.4m loss and gives first look at paywall takeup

Fairfax Media logoFairfax Media has this morning posted a $16.4m loss on the back further writedowns and its staff redundancy program.

Overall company revenue fell 8.2 per cent to $2.034bn, while the EBIDTA profit – earnings before interest, depreciation, taxation and amortisation – was between $359m and $365m.

The company this year recorded a further $444m in write downs from its regional, printing and agricultural business. The result is still a marked improvement on last year’s results which saw the company report a loss of $2.7bn, after write downs.

Fairfax also said that it now has 68,000 paid digital subscribers. It started paywalls for and on July 2.

This figure is higher than the 50,000 new subscribers rival News Corp confirmed across its tabloid mastheads late last month.

It also said it had 98,000 bundled print and digital subscribers.

At the time of posting, Fairfax shares has risen slightly to 59c, their highrest in a couple of months.


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