Fairfax Media writes down goodwill, mastheads by A$2.8 billion, still pays dividend

Thu, 23 Aug 2012

By Paul McBeth Aug. 23 (BusinessDesk) - Fairfax Media, the Australian media group that took more than A$1 billion of charges against goodwill and mastheads in 2010, has written down the value of those assets by a further A$2.8 billion, widening its annual loss. It will still pay a 1 Australian cent dividend. The loss was A$2.73 billion, or A$1.162 per share, in the 12 months ended June 24, from a loss of A$401 million, or 17 Australian cents, a year earlier, the Sydney-based company said in a statement. Sales fell 6 percent to A$2.32 billion,...

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