Fairfax and Ron Walker, Chairman of the Board of Fairfax Media, which led to the very public departure of Walker.Continued poor performance of Fairfax Media in light of changing news services was cited as one of the reasons for the sale of Marinya Media's interests in Fairfax. Fairfax had earlier stood down from the Fairfax board, and his son, Nick Fairfax, was reported to be discussing his future with the rest of the company board.David Kirk got the job ahead of Fairfax COO Brian Evans (former head of Fairfax New Zealand) and Doug Flynn, who took the top job at UK Pest control company Rentokil after negotiations with Fairfax broke off.
The staff reductions would take place in both Australia and New Zealand, with the latter country bearing the brunt of the cuts, with 160 full-time employees losing their jobs.The number of printed edition readers has fallen since at least 2006 and the group's stock price has declined by more than 60 percent since 2007, to less than A billion by September 2011, and by 85 percent at June 2012.Fairfax Media Limited (formerly John Fairfax and Sons) is one of the largest media companies in Australia and New Zealand, with investments in newspaper, magazines, radio and digital properties.The company was founded by John Fairfax who purchased The Sydney Morning Herald in 1841, and the Fairfax family retained control of the business until late in the 20th century.The website initially employed 14 journalists and was an attempt by Fairfax to break into the South East Queensland market.
On 20 March 2007 Fairfax Media launched a new business website, Business au that aggregated feeds from the other news vehicles in the Fairfax stable as well as "from the world's most respected news sources".
Mott indicated at the time of the acquisition that national syndication of programming (such as that of the since-retired John Laws) would largely be replaced on the network with more localised syndication at a state level. Fairfax and his family investment company, Marinya Media, sold their remaining 9.7 percent stake in Fairfax Media for A9 million.
The sale came after an earlier dispute between John B.
In that decade, Fairfax started two television stations, ATN and QTQ.
Fairfax began expanding in the 1960s, acquiring, among others, The Age, The Newcastle Herald and the Illawarra Mercury.
In 1979, Rupert Murdoch attempted to take over rival The Herald and Weekly Times.