KEY POINTS:
The board of Fairfax Media held an unscheduled meeting in Sydney yesterday, without managing director David Kirk, The Australian website is reporting today.
There are rumours that the company's deputy chairman and largest shareholder, John B Fairfax, is unhappy with the way things are and is "agitating for change", the report said.
"Mr Fairfax has suffered more than anyone else from sharp falls in the media group's share price this year, losing hundreds of millions since buying out his family's 14 per cent stake in February."
Insiders were reported to have said the board meeting yesterday afternoon was convened to allow the company's non-executive directors to discuss the operational performance of Fairfax, which owns The Sydney Morning Herald and Melbourne's The Age and The Sunday Age newspapers.
- NZHERALD STAFF
