Wise advice to Fairfax

FAIRFAX Media investor Alex Waislitz has “strongly encouraged” the publisher to press ahead with the spin-off of its property classifieds business despite it being in takeover talks.

The chairman of Thorney Opportunities says the investment house had long called on Fairfax to unlock value within the company.

Mr Waislitz said in a Thorney shareholder update that two takeover approaches for Fairfax from private equity firms in recent months showed the wisdom of this advice.