On Monday, takeover target Fairfax Media Limited (ASX: FXJ) announced that private equity firms TPG and Hellman & Friedman withdrew their bids for the company. We took advantage of the share price weakness to increase our holding in FXJ this week. We believe Fairfax Media is well positioned with potential changes to media laws and the continued success of its online property business, Domain. Shares in Fairfax Media closed down 13.2% for the week. We own Fairfax Media as a market-driven investment in WAM Capital, WAM Leaders and WAM Active.
Sounds interesting. Need to watch.