Fairfax follows buyout trail with $155m Border Mail takeover

Border Morning Mail publishes the Border Mail newspaper six days a week throughout the greater Albury Wodonga region, with a daily circulation of over 26,500 copies.

The deal will see Fairfax acquire 51 per cent of the company's printing division, which recently commissioned a double-width MAN Roland press along with binding and inserting capacity. The division produces the Border Mail newspaper and other publications for shareholders and customers.

David Kirk, CEO of Fairfax, says the acquisition represents a big boost to his company's regional publishing assets, allowing significant synergies that will include classified and display advertising initiatives and savings in newsprint, printing, and company costs.

“Regional newspaper companies of this quality are a scarce asset and we are delighted to have been able to reach agreement with the Directors. We are especially pleased, subject to approval by the BMM shareholders, to acquire such a respected and prestigious newspaper,” says Kirk.

“Our newspapers share the same heritage of service to the community and excellence in journalism. Fairfax is committed to continuing The Border Mail's vigorous local news reporting and participation in, and commitment to, the greater Albury-Wodonga region and its citizens,” he says.

“With strong, growing revenues and earnings, new printing capacity and with the benefit of the company's involvement in a vibrant regional economy, we believe Border Mail will add significantly to Fairfax's Australian publishing business,” says Kirk.

The total gross product of the Albury-Wodonga area is estimated at around $2.5 billion, making it one of the largest regional economies in south-eastern Australia. Border Morning Mail has been in operation for over 100 years, and also publishes the free weekly newspaper The Post every Thursday.