Fairfax Media (ASX:FXJ) has today announced it has entered into agreements with News Corp Australia that will see the publishers use each other’s printing networks.
The media company expects to save around $15 million dollars a year as a result of the deal.
Under the deal, News Corp will provide a range of printing services for Fairfax in New South Wales and Queensland, while Fairfax will print publications for News Corp out of its North Richmond plant.
Fairfax CEO Greg Hywood said the printing arrangements make the production of newspapers more efficient for both publishers.
Shares in Fairfax (ASX:FXJ) are trading 2.60 per cent higher to 79c