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Value of Fairfax Media hits two decade low

Shares in Fairfax Media have hit their lowest point since the company was listed on the ASX 19 years ago.

They dipped briefly to 85c this morning. The company’s previous low was in March 2009 at the height of the GFC. Since the start of the year, Fairfax Media’s value has dropped by more than 40%. Today’s fall was part of a wider slide on the ASX.

fairfax_media_shares_2011_google_finance

2011 year-to-date Fairfax Media share graph: Google Finance

At their highest, Fairfax shares were priced at $6 in 2000.

Fairfax is the second Australian media and marketing company this week to hit an all time low. Yesterday, Photon Group shares dropped to 3.6c.

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