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Fairfax shares jump on overhaul announcement

Fairfax shares jump on overhaul announcement

Posted

The Fairfax Media company which owns the popular weekly tabloid News Corp and has also been accused of sexual harassment, has raised more than $1 million through crowdfunding, bringing its total fundraising from $250,000 to $1.35 million.

The crowdfunding campaign for the print edition of the publication raised its final amount of $1.1 million on Thursday afternoon, a record.

However, more than 20 per cent of the remaining funds raised had already been used by the paper, which had raised $1.7 million on its last day of crowdfunding, to launch a website and digital video features.

The newspaper has faced criticism for its treatment of women and its reputation as a bully, and its leadership has not been well liked in recent days, which has prompted it to make a major corporate and community overhaul.

The newspaper had announced a fresh management shake-up, with former chief executive Ian Scott stepping in to lead the print edition.

„We felt it was right to begin a process to re-engage, re-organise our operations and re-connect with the community and the community’s expectations for our future,“ executive editor Greg Sheridan told ABC’s RN Breakfast.

„In the context of the news business, that’s pretty exciting because if you look at what the business is doing and it’s really good, we can all look at it from a pretty pragmatic point of view and understand why it’s doin청주안마g so well and it’s the job of every newsroom to figure out how to deliver in that context.

„We’ve had success in that context through a combination of people in leadership positions being driven by that idea of tSM 카지노he best interests of the newspaper, and then in a number of different media industries and it’s very inspiring for us to be able to see that.“

The new management team will begin meeting on Monday to discuss how News Corp’s new leadership structure will improve and the needs and expectations of its workforce.

The paper said it will retain a chief executive with the title of Editor-in-Chief to support editorial direction, but it will remove its current editor of culture, editorial director of culture, community engagement, executive director of social media and community engagement, as it looks for talent to fill them.

‚I don’t care about your opinion‘

Mr Sheridan described Mr Scott as an exceptional t호 게임alent who was a „remarkable, highly respected“ leader.

„[He is] extremely strong-willed an