Fairfax has today announced several big changes to its broadsheet papers The Age and SMH, including changing them to a tabloid format, the axing of 1900 jobs and the introduction of paywalls for online content.
The size changes to the papers will be introduced in March 2013, while digital subscriptions will be implemented across both titles during the first quarter of 2013. Today’s announcement, described as a metered” model, will see a base level of free access remain on the websites. The pricing and plans for digital subscriptions will be announced before the end of 2012. All these changes will also result in the closure of Fairfax’s Chullora and Tullamarine printing facilities by June 2014.
Today’s statement released by Fairfax also included a move to further accelerate implementation of the cost savings previously identified together with a number of additional cost-saving initiatives”, which will result in a reduction of staff of 1900 over the next three years. The changes signify the company’s preparation for digital-only news formats.
According to Fairfax chief executive and managing director Greg Hywood, No one should be in any doubt that we are operating in very challenging times. Readers’ behaviours have changed and will not change back. As a result, we are taking decisive actions to fundamentally change the way we do business.”