Fairfax Media (FXJ) shares hit a 2year high today. After the company posted a 50% slide in profit ($193.8 million) but beat the street with improved earnings and a higher dividend. The company reduced its Net debt by $234.1 million. FXJ's first 5 weeks run rate for 2H14 was better than the market had expected only down 3% when the market was looking for a fall of 6% FXJ's transformation program is going well still selling off non-core businesses. The interim dividend increased to $0.20 cps was up from 1cps in 1H13. Watch the full report here: