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On 26 August 2007, Kirk and Deputy CEO Brian Mc Carthy announced that 550 staff would be cut as part of a "business improvement" programme.The staff reductions would take place in both Australia and New Zealand, with the latter country bearing the brunt of the cuts, with 160 full-time employees losing their jobs.Fairfax Media was delisted from the Australian Securities Exchange in December 2018.

Fairfax Media was a media company in Australia and New Zealand, with investments in newspaper, magazines, radio and digital properties.

The company was founded by John Fairfax as John Fairfax and Sons, who purchased The Sydney Morning Herald in 1841.

Fairfax of Rural Press, saw the return of the Fairfax family to the company board.

The company also gained a number of other regional newspapers, radio stations and websites; plus agricultural publications in various countries.

In March 2006, Fairfax acquired New Zealand auction website nz for NZ$700 million.

On 4 March 2006, it was announced that Fairfax would purchase The Border Mail newspaper in Albury-Wodonga for A2 million.

In October 2006, speculation began to grow that the company would be bought out and split up after the passage of changes to Australian media laws.

Rival media company News Corp Australia purchased a 7.5 per cent stake in the company at this time, with the stated aim of keeping Fairfax in one piece.

He successfully took it over, selling some properties to his half-brother John B. By 1993, the company was re-listed on the Australian Securities Exchange and the two biggest shareholders of John Fairfax Holdings were the Canadian newspaper magnate Conrad Black and his Hollinger Group with 25%, and the Australian media mogul, Kerry Packer and his publicly listed company, Publishing and Broadcasting Limited with 15%.

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