Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.




28820 posts

Uber Geek

Moderator
Trusted
Biddle Corp
Lifetime subscriber

#112637 15-Dec-2012 22:19
Send private message

Hot off the press in Australia this evening (no mention at all in the NZ media yet) is the annoucement that Fairfax have sold their remaining stake in Trademe for A$650 million to pay off debt.

It could be some interesting times ahead for Fairfax. The debt may be gone but so is the money tree...



View this topic in a long page with up to 500 replies per page Create new topic
 1 | 2
23077 posts

Uber Geek

Trusted
Subscriber

  #732990 15-Dec-2012 22:21
Send private message

Unless they have learned all they need to and are not happy with where trademe is going - about to roll their own or something perhaps?




Richard rich.ms

BDFL - Memuneh
66335 posts

Uber Geek

Administrator
Trusted
Geekzone
Lifetime subscriber

  #732992 15-Dec-2012 22:23
Send private message

More information on The Australian (two hours ago): "Fairfax drops Trade Me.

"FAIRFAX Media is selling its remaining stake on on line arm Trade Me for AU$650 million to leave the company debt free.

The stake is being sold today to a range of institutions in a placement through UBS. UBS is selling the shares to a range of Australian and New Zealand institutions.

The sale at $ 3.05 a share is at a five per cent discount to the stock's close on Friday

The sale proceeds amount to more than the company paid for Trade Me some five years ago so it has been a profitable investment.

But the deal surprises because it is regarded by many as its best assets in the digital media world.

Fairfax is reportedly keen to pay down all debt to match the status of News Corps new print media arm and having watched the pitfalls of Ten network."




 
 
 
 


BDFL - Memuneh
66335 posts

Uber Geek

Administrator
Trusted
Geekzone
Lifetime subscriber

  #732993 15-Dec-2012 22:25
Send private message

richms: Unless they have learned all they need to and are not happy with where trademe is going - about to roll their own or something perhaps?


Only if they're backing Wheedle...





15889 posts

Uber Geek


  #732998 15-Dec-2012 22:43
Send private message

Interesting the news isn't even on the stuff website. Wonder if they will now remove all the links on the stiff website to all the different trademe websites. Doesn't really much much sense to me in terms of online being the future for news, but I guess if they need to pay down debt they may not have much choice. 5% discount on the shareprice though is quite generous. Guess they did that for a quick easy sale.

4553 posts

Uber Geek

Trusted
Lifetime subscriber

  #732999 15-Dec-2012 22:58
Send private message

Oz bubble has popped!





1332 posts

Uber Geek
Inactive user


  #733000 15-Dec-2012 23:04
Send private message

Interesting news, I'll be watching this space closely :)

15889 posts

Uber Geek


  #733004 15-Dec-2012 23:14
Send private message

Wonder what it will do to the share price on Monday. Fairfax did very well out of it in the end, so a good investment for them. But I struggle to see where the growth is in it without some major new idea. Currently they are just raising fees to increase revenue, which at some stage the fees will have to reach a peak. It's not really a growth company in it's current form, but I think it needs to be.

Speaking of Wheedle, I see they have updated their website with a new yellow colour and a message to say they will be back online soon. I think they are better to do a soft relaunch this time.

 
 
 
 


Mad Scientist
21837 posts

Uber Geek

Trusted
Lifetime subscriber

  #733051 16-Dec-2012 09:21
Send private message

nakedmolerat: Oz bubble has popped!


the print media bubble has popped a while back with most of fairfax's newspapers losing money to the internet generation ...




Involuntary autocorrect in operation on mobile device. Apologies in advance.


1328 posts

Uber Geek


  #733091 16-Dec-2012 11:36
Send private message

richms: about to roll their own or something perhaps?


They are not THAT stupid.




---
James Sleeman
I sell lots of stuff for electronic enthusiasts...


gzt

11192 posts

Uber Geek

Lifetime subscriber

  #733174 16-Dec-2012 15:54
Send private message

I caught something on the radio today something like fairfax would not confirm or deny the sale and neither would trademe. Weird.

8298 posts

Uber Geek

Subscriber

  #733233 16-Dec-2012 19:31
Send private message

3 News tonite said that sale was all on..




Regards,

Old3eyes


4234 posts

Uber Geek

Subscriber

  #733273 16-Dec-2012 20:52
Send private message

Nothing all day on the NZ Herald website until 7.00 pm.




Sometimes I just sit and think. Other times I just sit.


15889 posts

Uber Geek


  #733274 16-Dec-2012 20:53
Send private message

gzt: I caught something on the radio today something like fairfax would not confirm or deny the sale and neither would trademe. Weird.

I thought these things had to be announced through the stock exchange where they put a trading halt on the shares.

448 posts

Ultimate Geek

Trusted

  #733281 16-Dec-2012 21:20
Send private message

Be interesting to see who will become TM's largest shareholder

Can it still be claimed to be aussie owned afterwards?

15889 posts

Uber Geek


  #733288 16-Dec-2012 21:51
Send private message

It will possibly be very difficult to tell as they are often purchased in bulk by fund managers.I did read a good story in the herald, which basically said that they have sold it at the right time, and I'd concur. 

 1 | 2
View this topic in a long page with up to 500 replies per page Create new topic



Twitter and LinkedIn »



Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Intel introduces 10th Gen Intel Core H-series for mobile devices
Posted 2-Apr-2020 21:09


COVID-19: new charitable initiative to fund remote monitoring for at-risk patients
Posted 2-Apr-2020 11:07


Huawei introduces the P40 Series of Android-based smartphones
Posted 31-Mar-2020 17:03


Samsung Galaxy Z Flip now available for pre-order in New Zealand
Posted 31-Mar-2020 16:39


New online learning platform for kids stuck at home during COVID-19 lockdown
Posted 26-Mar-2020 21:35


New 5G Nokia smartphone unveiled as portfolio expands
Posted 26-Mar-2020 17:11


D-Link ANZ launches wireless AC1200 4G LTE router
Posted 26-Mar-2020 16:32


Ring introduces two new video doorbells and new pre-roll technology
Posted 17-Mar-2020 16:59


OPPO uncovers flagship Find X2 Pro smartphone
Posted 17-Mar-2020 16:54


D-Link COVR-2202 mesh Wi-Fi system now protected by McAfee
Posted 17-Mar-2020 16:00


Spark Sport opens its platform up to all New Zealanders at no charge
Posted 17-Mar-2020 10:04


Spark launches 5G Starter Fund
Posted 8-Mar-2020 19:19


TRENDnet launches high-performance WiFi Mesh Router System
Posted 5-Mar-2020 08:48


Sony boosts full-frame lens line-up with introduction of FE 20mm F1.8 G large-aperture ultra-wide-angle prime Lens
Posted 5-Mar-2020 08:44


Vector and Spark teamed up on smart metering initiative
Posted 5-Mar-2020 08:42



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.