Catalano reveals plans for $800m Fairfax asset sales

Original article by John Stensholt
The Australian – Page: 17 & 27 : 22-Nov-18

Former Domain CEO Antony Catalano has outlined his strategy for Fairfax Media if his legal challenge to its merger with Nine Entertainment Company succeeds. Catalano has proposed to divest the bulk of Fairfax’s assets, allowing it to focus on core assets such as its metropolitan mastheads and its controlling stake in Domain. Amongst other things, Catalano estimates that streaming video service Stan could fetch around $300m and Fairfax’s stake in Macquarie Media could be sold for at least $180m.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, STAN ENTERTAINMENT PTY LTD, MACQUARIE MEDIA LIMITED – ASX MRN, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, FEDERAL COURT OF AUSTRALIA, THORNEY OPPORTUNITIES LIMITED – ASX TOP, THORNEY TECHNOLOGIES LIMITED – ASX TEK, UPDATER INCORPORATED

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