Fairfax Aims for RIM

03 November 2000

Australian newspaper publisher John Fairfax Holdings has lodged a bid with Britain's Regional Independent Media, whose press stable includes the Yorkshire Post.

The offer to buy RIM from Fairfax, publisher of the Sydney Morning Herald, joins another bid from an unnamed European media group.

RIM has already rejected talks with US-owned Gannett, which made an offer on behalf of a consortium including Guardian Media and Johnston Press.

However, venture capital company Candover, RIM’s owners, has declared that it might float on the stock market rather than sell. The newspaper group could be valued at around £660 million.

News source: The Times (London)