No way! Look ahead 12 months and the profits will be vastly improved. TPG went in low, but a week later have upped the ante (but not really) by 27% - that may include a bid for the entire corporation and its assets, but look how quickly they would flog off those and retain The Age, SMH and AFR along with Domain, which is all they want....these private equity hucksters are not in the business of 'improving the quality of Australian journalism'...they are in it to make a fast buck, by stripping the company to the barest essentials, disposing of the non-core assets, boosting the figures to look wonderful for an IPO in 3 years, and then it's out the back door with a swag full of cash before the ATO gets wind - (see Dick Smith)....
Hang on to your shares - they're worth a lot more than $1.20.....
FXJ Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
