“…Fairfax Media has posted a loss of A$2.73 billion (NZ$3.5b) for 2011/12 – driven by massive writedowns on the value of its newspapers.
The media group’s net loss for the year to June 24 was seven times bigger than the $390.9 million deficit it reported for the previous financial year.
Revenue at the media group – which is undergoing a massive restructure and shedding hundreds of jobs -
- fell to $2.33 billion from $2.5 billion…”
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