A new survey of Aussie newspaper readers has found 78 per cent don’t want Fairfax Media to be 100 per cent owned by either of the two US private equity firms currently bidding to own the publisher outright.
According to the survey by Roy Morgan Research, only 17 per cent of Australians say that overseas owned institutions should be allowed to buy Fairfax outright while five per cent can’t say.
However, the study found a majority of Australians (53 per cent) are in favour of allowing overseas based institutions to own a minority stake in Fairfax. A larger majority of Coalition voters (59 per cent) are in favour of this option for Fairfax than ALP supporters (51 per cent).
Melbourne & Sydney more protective of Fairfax against 100% foreign ownership
- Only 12 per cent of Melburnians are in favour of allowing overseas owned institutions to bid for 100 per cent of Fairfax while 83 per cent of that say no.
- Sydney: 13 per cent in favour and 78 per cent against.
- Other Capital Cities (Adelaide, Brisbane and Perth): 23 per cent in favour and 74per cent against.
Commenting on the survey, Roy Morgan CO Michele Levine said: “Today 78 per cent of Australians say ‘No’ to the prospect of an overseas owned institution buying 100 per cent of Fairfax. Huge majorities of both ALP supporters (86 per cent) and also L-NP supporters (77 per cent) are against 100 per cent foreign ownership of Fairfax.
“However, 53 per cent of Australians are open to a minority foreign stake in Fairfax. Slightly more L-NP supporters (59 per cent) are in favour than ALP supporters (51 per cent),” Levine said.