Seven launches new mag Prevention and ‘could buy Fairfax’

Tim Burrowes

April 6, 2009 10:00

Kerry Stokes’ Seven group could launch a takeover bid for Fairfax, according to analysis carried out by Citigroup.

Analyst Digby Gilmour says that Stokes has a “once in a lifetime” opportunity to buy Fairfax, reports the Street Talk column in today’s Australian Financial Review.

According to the newspaper, the Citigroup analysis says that bringing Fairfax and Seven together could generate annual savings of $67m, including $50m of job cuts.

Citigroup is basing its analysis on a takeover via West Australian Newspapers in which Stokes is the largest shareholder.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.