This morning, Fairfax Media Ltd’s [ASXLFX] share price dipped by another 2.72%.
Fairfax has been dropping since Monday, now trading at $0.717 per share.
Located in Sydney, Fairfax Media provides news coverage across various formats such as print, and multimedia.
Incorporated in 1990, the company has branched out to talk radio and sports stations in Sydney and Melbourne.
Fairfax Media currently has a market cap of $1.644 billion and an enterprise value of $1.88 billion.
Recently Fairfax Media have severed ties with measurement firm Nielsen.
Nielsen provided digital content ratings while helping with daily audience data.
Fairfax will instead provide the market with its own independent audience data.
The print company believe their digital innovation is beginning to outpace standard audience measurement metrics by a long shot.
Adnews reported that a Fairfax Media spokesperson stated:
‘We will use our rich data — and have it independently audited — to provide advertisers with a complete picture of our high-quality, highly-engaged digital audiences. Accordingly, Fairfax’s metro business has decided not to continue its commercial relationship with Nielsen.’
Nielsen’s will no longer feature Fairfax Media’s mastheads to determine audience sizes.
Taking advantage of merger opportunities
After announcing their first-half operating earnings, Fairfax Media want to push forward future merger opportunities.
However, despite their speculated ambition on the matter, nothing is on the tables yet.
They state that their balance sheet is strong and will eventually take advantage of any opportunities that arise in the future.
Fairfax cut costs in its legacy newspaper businesses and managed to sell off assets in order to reduce debt.
In December last year, Fairfax and Nine Entertainment formed an alliance so they may share audience data in hope to compete with social media titans Google and Facebook.
For Money Morning
PS: Want to make the most out of your retirement pot? Boosting your retirement pot may be a little harder than it seems. To assist you with such matters, Matt Hibbard from Money Morning has put together a free article titled ‘5 Things You Could Do in the Next 30 Days To Boost Your Retirement Pot’.