Fairfax has cleaned up its balance sheet with a billion-dollar write-down announced today. This financial clean-up is something newsagents could take as a guide to cleaning up the newsagency in terms of space allocation to print, space allocation to dead stock generally and the management time commitment to slowing and dying product categories.
To me, that is the focus of today’s Fairfax story – what we should be doing in our businesses in a similarly future-focused mission.
This future faced mission is about exiting publishing. With written down assets the cost of closure is provided for before the event……the share price is primed for the anticipated decision.
Australian reports today that key investor in Fairfax os calling for closure of printed division. Are we ready ?