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BRIEFLY

February 04, 1988

Australian financier Robert Holmes a Court withdrew from an agreement to buy national newspapers in Australia and New Zealand from John Fairfax Ltd. The cancellation of the deal by mutual consent comes as Holmes a Court continues attempting to recover from the devastating impact of the October stock market crash on his huge international holdings. Holmes a Court's Bell Group Ltd. had agreed in September to pay Fairfax about $337 million for several newspaper, radio and electronic publishing properties.

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