Fairfax Media Ltd
(ASX:FXJ) says it will restructure parts of its business to improve efficiency and flexibility, allowing for more sharing of content.
The media company says the plans will see the creation of a new Australian Metro Media division in addition to a focus on monetizing online comment.
The Australian Associated Press says Fairfax will operate with five multi-platform businesses including Australian metro media, Australian regional media, New Zealand media, Agricultural media, and the Australian Financial Review Group.
AAP reports the Australian Metro Media division will bring together Fairfax’s mastheads under one operating unit, which include The Sydney Morning Herald and Melbourne's Age, in addition to Fairfax's New South Wales and Victorian community newspapers.
Speaking at the company’s strategy briefing CEO Brian McCarthy says Fairfax will operate as a true multi-platform company.
Fairfax Media moved from a loss to a profit of $282.37 million in the year to 30 June 2010.
