Fairfax streamlines print and online operations to realise better revenues
Fairfax Media is recalibrating its corporate structure to arrest the media company's continuing profit slide in the print division and to keep abreast with the shifting norms in the media business operations.
To realise more revenues, the media firm informed shareholders on Tuesday that the company would start focusing on its core businesses such as the Australian metro media, the Australian regional media, the agricultural media, the financial review group and the media outfit's radio operations.
The deep restructuring, according to Fairfax, would also see the assumption of a national editor, who would be tasked to facilitate the seamless article sharing of its numerous publications across the national level.
Fairfax is the publisher of nationally prominent dailies such as The Sydney Morning Herald and The Age, which is characterised by company chief executive Brian McCarthy as fantastic brands that afford the media firm fantastic market positions.
McCarthy said that with the company's emphasis on great content and its roster of committed employees, Fairfax is optimistic that "we'll continue to be a leader through this transition."
The whole restructuring effort amounts to the exciting synergy of Fairfax's print and online publications without rendering a redundant content for the company's print medium and thereby achieving a balance of offerings on both platforms.
Fairfax has yet to determine the profit promise of its paid online offerings but Mr McCarthy said that the company remains firm on its stand to capitalise and monetise on contents that it could dispense and possibly develop a niche market for its online platform.
With the growing popularity and intense usage of iPad and iPhone applications, Fairfax is banking on the notion that the new online platforms would enhance the company's prospect of generating more revenues.