While investors may be concerned by billion- dollar asset writedowns across Australasia's media companies, analysts have focused on the underlying numbers.
Last week Fairfax's bottom line was hit by a A$2.8-billion writedown in the value of intangible assets such as masthead brands, goodwill and customer relationships.
As a result, the trans-Tasman media company, owner of the Taranaki Daily News, made a net loss after tax of $2.7b. A week earlier, APN News & Media wrote down the intangible assets of its New Zealand publishing business, by $485 million.
But Australian media industry analyst Sameer Chopra said net profit or loss figures, which included 'abnormal' charges, did not reflect a company's underlying profitability. Debt ratio was also a crucial figure. Fairfax NZ
- © Fairfax NZ News
Do you think state schools should conduct religious instruction for primary-aged children?