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Fairfax Wins Confidential Source Case

Posted: April 18th, 2013 | Author: | Filed under: Media, Print Media, World of the News | Tags: , , , , | Comments Off on Fairfax Wins Confidential Source Case

FAIRFAXThe Victorian Court of Appeal has ruled two Fairfax journalists will not be ordered to reveal their sources. Last year a magistrate summoned The Age journalists Nick McKenzie and Richard Baker to appear in the committal hearing of eight former directors of the Reserve Bank subsidiaries, Securency and Note Printing Australia.

The former executives are accused of bribing foreign officials in Indonesia, Malaysia and Vietnam to gain contracts to print banknotes between 1999 and 2004.

The journalists’ reports on the scandal triggered a police investigation into the allegations. Subpoenas were issued for Mr McKenzie and Mr Baker after a newspaper article in December 2012 reported an allegedly corrupt businessman was prepared to testify against the former directors in exchange for a leniency :: Read the full article »»»»


Fairfax Kills OFF Broadsheets and Lifts Profits

Posted: March 4th, 2013 | Author: | Filed under: Digital Media, Media, Online Media, Print Media | Tags: , , , , , , , | Comments Off on Fairfax Kills OFF Broadsheets and Lifts Profits

Fairfax Goes Tabloid, sorry COMPACT!Fairfax Media’s familiar broadsheets have been consigned to the history books, with the first tabloid editions of The Sydney Morning Herald and The Age rolling off the printing presses this morning.

In what is more of a survival strategy than a cosmetic overhaul, the larger broadsheet layout has been dumped for the weekday editions as Fairfax Media fights to hold onto readers and advertisers in a digital media world that has forced the closure of papers around the globe.

Apart from just size – which Fairfax amusingly refers to as compact rather than tabloid –  one of the biggest changes puts sport on to the back pages, with the very back page taken up by an advertisement, nice work.

Fairfax’s head of advertising strategy, Sarah Keith, says the company put in some very serious research. Brain imaging was used to track what readers really wanted during the entire redesign process, with some resounding plus’ for the new tabloid sized compact papers :: Read the full article »»»»


Fairfax SELLS NZ Online Classifieds Site TRADE ME… for a profit!

Posted: December 18th, 2012 | Author: | Filed under: Media, Print Media | Tags: , , , , | Comments Off on Fairfax SELLS NZ Online Classifieds Site TRADE ME… for a profit!

Fairfax Media AustraliaFairfax is selling its remaining 51 per cent stake in New Zealand online classifieds site Trade Me for over $600 million. The struggling media company is selling its shares for $3.05 each, in a sale underwritten by UBS that will raise a total of $616 million.

Fairfax reckon that the money will be used to pay down its extremely large debt burden. The company’s chief executive Greg Hywood says cutting debt will allow the business greater flexibility in adapting to the new media environment.

“The proceeds from the sale will reduce Fairfax’s net debt and will provide us with a very strong balance sheet and the financial flexibility to invest and to complete the company’s structural transformation,” Mr Hywood said in a statement. “So when you look at the sale of both parts, despite selling at a discount, Fairfax has sold the entire Trade Me business for just over a billion dollars, giving it a $413 million profit.”

This dramatically reduces Fairfax’s debt down to around $230 million, which means that Fairfax can concentrate on rejuvenating it’s Australian business interests. Post sale, Fairfax will no longer have any stake in Trade Me. Mr Hywood says the firm has learnt some valuable lessons about the online environment through its six-year ownership of Trade Me.

“Trade Me has been a great business for Fairfax and we have learned a great deal more about the successful operation of digital businesses over the years since we acquired Trade Me for $NZ750 million in 2006.”


UPDATED: News Limited Shakes It ALL Up

Posted: June 26th, 2012 | Author: | Filed under: Digital Media, Indeep Media, Media, Online Media, Print Media, Television, World of the News | Tags: , , , , , , , , , , , , , , , | 2 Comments »

News Limited Shakes It ALL UpAustralia’s media landscape has been through the ringer over the past few weeks, the ground is changing at a pace not seen since the eighties. The latest shake-up comes from the ever stoic News Limited – the Australian arm of News Corporation – the company has announced a massive restructuring of the way it delivers news.

The announcement on last week, which included job cuts and a reduction in east coast operations from 19 divisions to five, came days after Fairfax Media outlined plans to axe 1,900 staff, move jobs offshore, close two major printing presses and downsize its flagship newspapers to tabloids, as well as it’s ongoing boardroom battles with billionaire Gina Rinehart.

Despite the cuts, News Limited CEO Kim Williams has told staff that the organisation remains committed to print :: Read the full article »»»»


World of the News! Australia’s Fairfax Media Sends Jobs Offshore

Posted: May 29th, 2012 | Author: | Filed under: Indeep Media, Media, Online Media, Print Media, World of the News | Tags: , , , , , , , | 3 Comments »

World of the News - Fairfax Sends Jobs OffshoreThat shrinking Australian media behemoth that is Fairfax Media, is apparently planning to send jobs offshore by relocating production of its regional newspapers to New Zealand.

The proposed changes will affect 66 Fairfax staffers, Media, Ethics & Arts Alliance – MEAA – said via statement today.

Fairfax said the affected staff would be offered voluntary redundancies or redeployment, however, some staff may also be forced into redundancy.

The affected newspapers include the Illawarra Mercury, Newcastle Herald and seven associated community titles including the Lake Times, Kiama Independent, Newcastle Star, Myall Coast Nota, Port Stephens Examiner and Lakes Mail.

Workers were told about the plans this afternoon and Fairfax has announced the move on the papers’ websites.

Fairfax says the changes are part of a “wider company strategy to pursue operational efficiencies while strengthening the focus on audience growth and producing quality content”.

Fairfax says no reporting or photographic positions would be affected :: Read the full article »»»»