Fairfax Media intends to cash it on its popular news Webcsites The Age and The Sydney Morning Herald to further propel revenues in the near term.

Achieving a 4 percent increase in revenues in the first four months, Fairfax Media president Brian McCarthy is quite positive that the growth momentum for the company continues.

in its annual meeting in Melbourne on Thursday that

McCarthy told shareholders in its annual meeting in Melbourne yesterday that the company is now set to embark on the second phase of its digital media strategy to rake in more revenues and profits for the company in time.

He noted that its no doubt its two online and mobile publications the Sydney Morning Herald and the Age have had good readership and thus, can be a good base for advertising across all media platforms including its printed editions.

"I sense we are now moving into a more positive era," he noted.

A report by Fairfax affiliate, the Sydney Morning Herald quoted McCarthy on his intentions to focus the company's strategy for its online news will be similar to that of pay TV online models.

"Remember, when they entered the market, they came in at quite a low level and they've done a great job of upping the yields. I think you've got to go and catch the audience, you've got to monetise it, then the yields will grow over time to make it a better return to the company," McCarthy said.

Fairfax Media investor briefing set for November 23 will do a more detailed presentation of the said plan.

McCarthy also cited that the printed editions of its publications are also doing quite well and has generated some revenues for the company.

The company president's proposal of a $2.6-million remuneration, which places long-term performance and for rewarding only on-target results with a bonus, was favored by shareholders and supported by chairman Roger Corbett.