Fairfax Media Limited's (ASX: FXJ) share price is up nearly 8% to $0.77 at the time of writing, with a one year performance of gains of 4%. The company's presentations at the Macquarie Conference yesterday and today have led to increased buying interest, as the company focuses on its transformation into a digital company.
Domain continues to be the significant driver of growth in the company as newspaper advertising revenue continues to dive.
Fairfax is trading on a forward price-to-earnings (PER) multiple of 12x and has an annual dividend yield of 4.3%.
The outlook for the company is dependent on the success of Domain and Stan, with revenues from newspaper advertising continuing to fall.
Media company, NEWS CORP's (ASX: NWS) share price is up 24% for the year to $21.66. The company is trading on a forward PER of 33x.
