John Fairfax marked the end of an era for Australian journalism when he sold his 9.7 per cent stake in the company bearing his name, but it seems he hasn’t quite left the media scene.
At the Cumnock Animals on Bikes competition, the president of the Royal Agricultural Society Fund discussed the $193 million decision to sell.
“It was a tough decision to make,” he said.
“I’ve been with the media my whole life, but I had my family to consider, too and their future.
“People say it’s a bad time as the market is so low, but other special opportunities are opening up in other areas,” he said.
“The key to it is that leaving the media opens up a real opportunity for quality journalism,” he said. On which opportunities he was considering, he was unclear.
More than 50 institutions bought the stock and Mr Fairfax is optimistic about the future of Fairfax Media. “I think for Fairfax, the Sydney Morning Herald is established as the authentic authority for news and information,” he said.
He described the newspaper as the gold standard product in the industry.
“It’s not going to stop selling,” he said.
People want a quality source of journalism that they can trust before they turn to Twitter, Facebook and Wikipedia, he said.
“The Land is the bible in NSW, Country Life in Queensland because they address the issues facing country people,’ he said.
“Keeping people informed on vital issues in the country such as coal seam gas and wind farms. It’s clear that Mr Fairfax has not lost any interest in these issues.
“I’ve been in the media since 1961,” he said.
“I can’t divorce myself from it now.”
The Wellington Times
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