Date
18 August 2018
Fairfax Media said the printing alliance is expected to result in an annualized benefit of about A$15 million (US$11.1 million). Photo: Reuters
Fairfax Media said the printing alliance is expected to result in an annualized benefit of about A$15 million (US$11.1 million). Photo: Reuters

Australia’s Fairfax to share print costs with rival News Corp

Fairfax Media said on Wednesday it had agreed with rival News Corp.’s Australian unit to collaborate on printing newspapers to curb costs, Reuters reports.

The publisher of the Sydney Morning Herald and Australian Financial Review newspapers said the move would result in the closures of its print centers in Beresfield, New South Wales, and Ormiston in Queensland state.

The agreement was expected to result in an annualized benefit of about A$15 million (US$11.1 million), Fairfax said in a statement.

The companies publish Australia’s two national papers and the major metropolitan dailies in nearly every state capital.

A decade ago, before print ad revenue collapsed, such a printing alliance would have been unthinkable, the news agency said.

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CG

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