Fair go, Fairfax - Don't discount journalism - Walker won't go as Fairfax shares at 15-year low

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Walker won't go as Fairfax shares at 15-year low

Monday, 17 November 2008

Mr Walker later told journalists he had the board's blessing to continue for another three-year term when he stands for re-election next year. He also defended the size of his one million share stake when asked why he wasn't using his personal wealth - estimated at $427 million by BRW Magazine - to support the company's ailing share price. "Apart from the Fairfax family I have more shares than any other chairman before me," Mr Walker responded.

His comments came as Fairfax chief executive David Kirk painted a gloomy outlook for the media sector, and acknowledged shareholders were "greatly concerned" about the company's share price, which is off 65 per cent since January. The shares fell to fresh 15-year lows yesterday [Thursday, Novemner 13], down 6 per cent, or 10.5, to $1.625.

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