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f2 ends MOU with eisa SYDNEY, May 30, 2000 – John Fairfax Holdings Limited said today that its online subsidiary, f2 Limited, had ended its Memorandum of Understanding (MOU) with eisa Limited to invest in and manage the portal of the OzEmail businesses eisa has been seeking to acquire. Mr. Fred Hilmer, Chief Executive Officer of Fairfax, and Chairman of f2, said: "Notwithstanding our best efforts over the past several weeks, it has become clear that our proposed deal with eisa cannot be concluded on terms and conditions that are in the best interests of our shareholders. The deal was unable to be restructured to our satisfaction. We have therefore exercised our rights to protect our interests by ending the MOU with eisa." Mr. Nigel Dews, Chief Executive of f2, said: "The deal with eisa to purchase what is still an attractive asset – OzEmail – and manage the portal was simply one possible route to continue our strategy of developing an increased number of effective distribution channels for our leading content and ecommerce businesses." -- ENDS -- For further information, please contact: Nigel Dews, f2 Tel: (02) 9282 2830 Bruce Wolpe, Fairfax Tel: (02) 9282 3640
Note to editors John Fairfax Holdings Limited [ASX:FXJ] is Australia’s leading publishing group. Its newspapers and magazines include The Sydney Morning Herald, The Australian Financial Review, The Age, The Sun-Herald, and BRW. 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 here on our Web site, www.fxj.com.au. f2 Limited, Fairfax Interactive Network, is a wholly owned subsidiary of John Fairfax Holdings Limited [ASX:FXJ]. It is Australia’s leading content provider on the Internet with around 1.6 million page views per day across a network of sites which include:
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Fairfax > Corporate Affairs & Media Releases > Announcements > eisa
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