Fairfax Media slashes New Zealand mastheads value by 80 percent

Fri, 28 Dec 2012

By Paul McBeth Dec. 28 (BusinessDesk) - Fairfax Media, which publishes the Dominion Post, Press and Sunday Star Times newspapers, slashed the value of its New Zealand mastheads by more than 80 percent in a group-wide writedown of its traditional publishing assets. The New Zealand holding company, Fairfax New Zealand Holdings, valued its local newspaper titles at $175.2 million as at June 30, down from $950.1 million a year earlier, according to financial statements lodged with Companies Office. Value is allocated to the mastheads based on ho...

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