A devastating exposé by former Fairfax editor, Gold Walkley winner, and leading business journalist Colleen Ryan.
Colleen Ryan gives the definitive account of the fate of Fairfax. It is the story of greedy media moguls, angry and ambitious politicians, foolhardy heirs and heiresses, zealous journalists, muddling management and the rise of digital media. The once-mighty Fairfax has been a victim of them all. A drama-filled saga that reveals how far Fairfax has fallen.
About the Author
Colleen Ryan was a Fairfax journalist for over 35 years. She is a former Editor of the Australian Financial Review and during her career she was Washington correspondent for the AFR and more recently China correspondent, based in Shanghai for 6 years. Colleen has worked across the Fairfax group including a decade with the Sydney Morning Herald and five years with National Times. She has won three Walkley awards including the Gold Walkley and received a Centenary Medal for services to journalism and publishing, as well as the Graham Perkin Australian Journalist of the Year Award. Colleen was co-author of the last book on Fairfax, Corporate Cannibals, The Taking of Fairfax, published in 1992.
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This is a clinical dissection of a family and company, with blue riband Australian pedigrees, on their way down, down, down to their ignominious downfall. However the cover design is misleading: admittedly, Young Warwick Fairfax blew his inheritance and trashed the company and family names by his premature bid to take over and, admittedly, Gina Rinehart made a mysterious, and perhaps alarming, foray into the Fairfax Media share register late in the piece. But the real culprits for Fairfax's demise are the chairmen and board members of recent years, who not only never understood their own newspapers but also didn't understand the Internet, despite plenty of prior warning of its game-changing importance. Fairfax just didn't, and still doesn't, have the wily cunning, foresight and bravado of Murdoch and Packer and the cleverness and innovation of the dot.com entrepreneurs. This is a 21st century parable of how to turn a big business into a small one. Every Fairfax shareholder should read this book to find out exactly how and why their investment went into freefall so quickly.
Number Of Pages: 320
Published: 1st July 2013
Dimensions (cm): 23.3 x 15.4 x 2.5
Weight (kg): 0.44