12 Nov 2011

Last family link to Fairfax Media sold

8:26 am on 12 November 2011

The Fairfax family has sold its remaining stake in Fairfax Media.

The ABC reports the founding family's company has sold its remaining 10% stake to institutional buyers.

Marinya Media, owned by John Fairfax, had retained the shares acquired as part of a deal in early 2007 to merge Fairfax with Rural Press.

He retired as a director at the group's annual general meeting in November last year.

Fairfax shares closed at A92.5 cents on Thursday. The ABC reports they slid a further 7% on Friday to A86 cents.