Ownership
Fairfax went public in 1957 and grew to acquire interests in magazines, radio and television. The group collapsed spectacularly on 11 December 1990 when Warwick Fairfax, great-great-grandson of John Fairfax, attempted to privatise the group by borrowing $1.8 billion. The group was bought by Conrad Black before being re-listed in 1992. In 2006, Fairfax announced a merger with Rural Press, which brought a Fairfax family member, John B. Fairfax, in as a significant player in the company.
Read more about this topic: The Sydney Morning Herald
Famous quotes containing the word ownership:
“They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)