Today Fairfax CEO, Greg Hywood, reiterated that the venerated Australian news publisher would shift to a digital-only model, but stopped short of confirming it by saying that would only occur only if print became unprofitable.
Hywood spoke at the Fairfax General Meeting today saying, “Your board and management are clearly and decisively preparing for the time – which may be in three years or 15 years – when print publications in the Metro business can become unprofitable and we move to a digital-only model. We are taking the necessary steps now and will in the future take further action if required. We will manage the business in the world of reality and not sentimentality.”
“But while there is cash flow to be generated from print, we will still be there,” it was reported in AdNews today.
Leading media analysts recently gave the print life of Fairfax’s news stable another seven years. Business Spectator reported earlier in September that the major metropolitan newspapers would be the first to go and speculated on the year 2019. Fairfax could cut the weekday editions of titles like the Sydney Morning Herald, The Age, The Canberra Times initially, it reported.
*Business Spectator: Key Fairfax publications ‘digital only’ by 2019: analysts