Fairfax Media chief flags weekend-only papers

MEDIA chief executive Greg Hywood has flagged a switch to weekend-only print editions of The Sydney Morning Herald and The Age.

Fairfax Media’s CEO Greg Hywood says the masthead titles could go weekend-only.

MEDIA chief executive Greg Hywood has flagged a switch to weekend-only print editions of The Sydney Morning Herald and The Age.

Mr Hywood said the masthead titles could go weekend-only because those editions generated the majority of advertising revenue, while the Australian Financial Review could go opposite and drop its weekend edition.

Fairfax flagged the potential new publishing models in the face of tumbling revenue, which has already led to widespread job losses.

Fairfax Media’s headquarters at Pyrmont, Sydney.

“In the case of the SMH and The Age, the newspapers could potentially offer a differentiated consumer experience designed for the weekend,” Mr Hywood said in a speech to the Macquarie Australia Conference on Friday.

“This fits with what consumers want — 24/7 digital and print with more lifestyle and contextual information on the weekend when there is more time to engage.” “Financial Review print would likely focus on its weekday revenue strength.” Mr Hywood said the company would inevitably move to a new business model for its metropolitan newspapers, though it may be some time away.

Fairfax Media journalists in Melbourne and Sydney went on strike in March.

“The model will take shape over the coming years as our transformational journey continues,” he said.

Fairfax has been drawing up the potential changes as it monitors international trends, rather than the local industry, Mr Hywood added.

“Across the developed world we are seeing deep changes to the traditional seven-day-a-week publishing model that signals a new future: 24/7 digital and reduced print frequency,” he said.

Originally published as Fairfax Media chief flags weekend-only papers