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Statement by f2 Limited on acquisition of theSPOT by David Jones SYDNEY, June 29, 2000 – Mr. Nigel Dews, Chief Executive of f2 Limited, the online and interactive subsidiary of John Fairfax Holdings Limited [ASX:FXJ] issued the following statement on the acquisition of theSPOT by David Jones: "theSPOT has been delivered into very capable hands. For f2, and our partnership with Amazon.com, this transaction clears the decks, enabling us to build on the good working relationship established by the two companies." In January, f2 and Amazon.com established f2 Investments Pty Limited to serve as an investment vehicle for f2 and to pursue joint business opportunities. f2 investments took a stake in theSPOT. f2’s share of the writedown of the investment in theSPOT is expected to be in the order of $4 million and will be taken into account as an abnormal item in the current financial year. -- ENDS -- For further information, please contact: Bruce Wolpe, Fairfax 02 9282 3640 Note to editors John Fairfax Holdings [ASX:FXJ] is Australia’s leading publishing group. Its mastheads include The Sydney Morning Herald, The Australian Financial Review, The Age, The Sun-Herald, and Business Review Weekly. In addition, the Company publishes financial and consumer magazines, and provides online services. In 1999, the Company had revenues of over $1.1 billion. Fairfax corporate and financial announcements are posted on our website: www.fxj.com.au f2 Limited, Fairfax Interactive Network, is a wholly owned subsidiary of John Fairfax Holdings Limited. f2 is building a strong position in ecommerce and is Australia’s leading provider of online content. The company’s extensive network of over 30 sites attracts over 2.3 million page views per day (2.4 million site visits per week) for its sites, including: freemail Big Colour Pages, a national Internet and print business directory |
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Fairfax > Corporate Affairs & Media Releases > Announcements > THE SPOT
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