Interesting:
His comments come after the AFR last week published a positive note from Morgan Stanley about the valuation of the financial daily.
The report said the newspaper had a "bright future" and attached to the title a base value of $200 million.
But other valuations of the paper have indicated a value much lower than that. Bell Potter recently placed an enterprise value on the AFR of just $70m and the metropolitan newspapers of Fairfax, namely the SMH and The Age of $86m.
Morgan Stanley said the value for the AFR could even be as high as $380m, a valuation based on the estimated $30m price News Limited (publisher of The Australian) paid for Australian Independent Business Media, owner of Business Spectator, in June.
"That is a big number . . . in fact it is almost two times what we ascribe to the AFR in our current FXJ sum-of-parts valuation at $200m, or 9c a share," analyst Andrew McLeod said.
The Bell Potter valuation puts the AFR's value at just 3c a share.
Fairfax shares closed 1c higher yesterday at 54c.
