Sydney Morning Herald
Reports out of the Fairfax buildings this morning were of stunned newsrooms, shocked into silence as Greg Hywood announced 1900 jobs to go, the broadsheets shrunk to compact size, printing presses closing, and an acceleration of the shift to a focus on digital.
The Fairfax statement to the Stock Exchange made it very clear the company is hanging its future on its news websites, which will start charging for some content.
Many people took to social media to decry the company charging for access to its sites, conveniently ignoring that someone has to pay the salaries. The share market reacted somewhat differently to the staff and readers, with Fairfax shares immediately jumping 4 per cent. Clearly investors are not nostalgic about the smell of newsprint.
Latest 2 of 139 commentsView all comments
Read all about it
Up to the minute Twitter chatter
That was pretty much the best thing I have ever seen #crowwwwwwwwws
MT @RaidersCanberra "Congrats to Blake Ferguson on his selection for NSW. LIKE to show your support!" Um guys, you can't "like" a Tweet
@stilgherrian said Australia
The latest and greatest
Good morning Punchers. After four years of excellent fun and great conversation, this is the final post…
I have had some close calls, one that involved what looked to me like an AK47 pointed my way, followed…
In a world in which there are still people who subscribe to the vile notion that certain victims of sexual…