Fairfax shares climb 7.4% as market welcomes digital paywall in major overhaul

Mon, 18 Jun 2012

By Paul McBeth June 18 (BusinessDesk) - Shares in Fairfax Media jumped 6.9 percent after the media company battling to contain costs as consumers migrate to the internet for news announced it is paring back its print business and will introduce a digital paywall. From next year, Fairfax will publish its flagship Sydney Morning Herald and Age newspapers in tabloid format, while their online presence will be put behind a paywall, a move long overdue according to Angus Gluskie, head of Sydney-based White Funds Management. The stock rose 4.5 Aus...

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