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The group’s last chairman was Nick Falloon and the chief executive officer was Greg Hywood. On 26 July 2018, Fairfax Media and Nine Entertainment Co. John Fairfax purchased The Sydney Morning Herald in 1841. Several generations of the Fairfax family continued to control the company. Fairfax Media was founded by the Fairfax family as John Fairfax and Sons, later to become John Fairfax Holdings. The Australian Financial Review was founded in 1951. In that decade, Fairfax started two television stations, ATN and QTQ.
In 1987, Warwick Fairfax, then aged 26, controversially bought out his family’s holdings in the company by borrowing heavily. In 2003, Fairfax acquired many of New Zealand’s highest-profile newspapers when it bought the publishing assets of that country’s Independent Newspapers Limited, whose cornerstone shareholder was News Corp Australia. In August 2005, Fairfax’s general classifieds site created in March 2004, Cracker. In August 2005, Fairfax ended its 16-month search for a new chief executive officer with David Kirk, a former Rugby Union World Cup winning captain of the New Zealand All Blacks being appointed to replace departing CEO Fred Hilmer.
On 7 December 2006, John Fairfax Holdings and Rural Press announced the beginning of their merger proceedings. On 7 March 2007, Fairfax Media announced a new website for Brisbane, called the Brisbane Times. The website initially employed 14 journalists and was an attempt by Fairfax to break into the South East Queensland market. 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. 2 billion by September 2011, and by 85 percent at June 2012. Fairfax and his family investment company, Marinya Media, sold their remaining 9.
The sale came after an earlier dispute between John B. Fairfax and Ron Walker, Chairman of the Board of Fairfax Media, which led to the very public departure of Walker. Fairfax’s biggest shareholder, purchasing a 14 percent stake in the company. Rinehart also sought a position on the Fairfax board. By June 2012, Rinehart had increased her stake in Fairfax Media to 18.
On 18 June 2012, as part of evolving to a sustainable model for its news media business, Fairfax Media announced it would cut 1,900 staff and begin to erect digital paywalls around its two main metropolitan news brands, The Sydney Morning Herald and The Age. It also announced it was shifting to “compact” or tabloid-sized editions of the broadsheet newspapers from March 2013, and that its two printing facilities at Chullora and Tullamarine would close. Allure Media own a range of websites, including the Australian licenses for Business Insider, Lifehacker, Gizmodo, and Kotaku. In 2014, Fairfax Media founded online streaming company Stan with Nine Entertainment Co. 50 million into the joint venture. In December 2015, automotive digital business 112 and Fairfax’s Drive. 50:50 joint venture in the online motor sector, with Fairfax to license the Drive brand and Drive.
In December 2015, automotive digital business 112 and Fairfax’s “Drive. 50:50 joint venture in the online motor sector. Fairfax will license the Drive brand and “Drive. URL to 112, which currently owns and operates “themotorreport. In March 2016, many staff from its newspaper divisions went on a 4-day strike over planned job cuts of 120 editorial staff from The Sydney Morning Herald, The Age and The Australian Financial Review. All printed and digital editions continued during the action but The Age web site was down on 25 and 26 March adding to a 2-week outage earlier in March. Fairfax has a portfolio of print and digital media assets.