Today's AFR
TPG Capital is back with a new break-up plan for Fairfax Media.
As revealed by Street Talk on Sunday, the private equity giant has made a cash offer to buy Fairfax's crown jewels - the Domain online real estate business - along with the company's three biggest mastheads, events and digital ventures (excluding online streaming network Stan).
Left behind would be Fairfax's New Zealand business, which had been seeking to merge with fellow publishing group NZME, Fairfax's Australian regional newspaper unit, its stake in the Macquarie Media radio venture and a 50 per cent share of Stan.
Those assets would be retained by existing Fairfax shareholders under TPG's proposal.
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