Series 011: Annual reports and notices of meetings of David Syme & Co Limited, 1957-1987

MLMSS 9894/Boxes 16-17

series

1957-1987

9593494

0.16 metres of textual material (1 box)

David Syme & Co Limited was registered as a public company on the Melbourne Stock Exchange in June 1948 following permission from the Supreme Court of Victoria to form a public company to take over publication of "The Age" from the David Syme Trust. Oswald Syme the youngest son of David was the Chairman of the company. 600,000 ordinary shares at £1 each were issued to the trustees of the Estate of David Syme as consideration of the assets of the business and 400,000 preference shares at the same value were made available to the public.
There was a further public issue of 400.000 £1 shares in 1951. The shares were divided into 2/6 and a bonus issue of a million ordinary shares was made.
John Fairfax & Sons Limited purchased 1 million 50 cent shares in December 1966. Fairfax interest increased to over 50% in July 1972 , 83% in 1973 and full ownership in 1983.
By 1975 Corporations within the group in addition to the parent company included:
All Graphics Pty Ltd - suppliers to graphic arts trade and distributors of newsprint
Armstrong Audio/Video Pty Ltd - operation of sound recording studios [This company had formerly been Bill Armstrong Pty Ltd and acquired Video-Tape Centre Pty Ltd in 1975]
Magdiss Pty Ltd - Distributors of Magazines
Optro Pty Lid - design and manufacture of audio and video equipment and Newspress Pty Ltd - Magazine publisher. [This company commenced operations in 1975 and had previously been PEA (Latrobe Court) Pty Ltd)

By 1976 the company published nine suburban newspaper and invested in Efftee Broadcasters Pty Ltd (Radio Station 3XY) and McPherson Newspapers Group, based in Shepparton
In October 1977 Syme Media Enterprises Ltd (Hong Kong) was established to operate an Asian Marketing Bureau for the Group and publish 'Media Magazine' and 'Asian Press and Media Directory'
Newspress Pty Ltd took over the group's magazines section also produced a number of periodicals in the sporting, recreational and amateur radio fields.
On 27 July 1978 the group acquires 50% of the L & S Group of companies that supplied school textbooks, library and cartographic supplies, educational equipment and audio-visual software and hardware. The group also published school and tertiary textbooks and Australian learning and resource materials.

On 1 June 1978 PPR Pty Ltd the company that published the suburban newspapers for the group acquired the publication rights and assets of Cumberland Newspapers (Victoria) Pty Ltd also taking the name of the company.

On 1 January 1979 the assets of Light & Denton (Vic) Pty Ltd, producer of gravure cylinders, were acquired, and Syme's Gravure Division amalgamated and moved operations to the former company's site at Moorabbin. This acquisition placed Syme in a dominant domestic market position and an export market to New Zealand and South-East Asian was developed .

By mid 1982 the company's position was as follows:
The wholly owned subsidiaries were AAV-Australia Pty Ltd (production of radio, television, recordings, films and provision of training and marketing services) L & s Educational Supply Corporation Pty Ltd; Magdiss Pty Ltd; Newspress Pty Ltd; Syme Community Newspapers Pty Ltd; Syme Entertainment Pty Ltd (Video cassette duplicator and film producer) Syme Media Enterprises Ltd (Hong Kong) and Warrnambool Standard Pty Ltd.
The company had a 50% interest in the following - Creative Video Pty Ltd; Efftee Broadcasters Pty Ltd; McPherson Newspapers Pty Ltd; South Eastern Newspapers Pty Ltd; S & T Technology Pty Ltd and Warragul Regional Newspapers Pty Ltd.
The company was operated as a fully owned subsidiary of John Fairfax Limited until 1999 when the company was reconstituted as The Age Company Limited - A subsidiary of John Fairfax Holdings Limited.

The series includes the following information: Note of the annual meeting; Report by the directors; Financial Statements.

Copyright status:: In copyright
Research & study copies allowed:
Rights and Restrictions Information:: No publication without prior written approval of Fairfax Media Ltd
Please acknowledge:: Mitchell Library, State Library of New South Wales and Courtesy Fairfax Media Ltd.

Original Fairfax Series Number 16