Fairfax Media Expects 8% Drop In H2 Revenue

Fairfax Media Ltd

said it projects an 8% y/y decline in its second-half revenue. It expects revenue of A$1.17 billion, down from A$1.23 billion in the first half of 2012. Fairfax projects earnings before interest, tax, depreciation and amortization of around 500 million Australian dollars (US$493 million) in FY12, versus analysts' estimates of A$513.5 million.