Fairfax's long-awaited takeover of Metro Media Publishing is complete, taking to $175 million the amount of money the company has spent buying back property-advertising revenues in the past decade.
Seven of Metro Media Publishing's eight eastern titles will close. Only the 148-year-old <em>Dandenong Journal</em> will remain open for business.
Metro Media Publishing, battling a sea of red ink in its suite of former Fairfax suburban mastheads, is slashing staff costs. A sell-off could also be on the cards.
Recently merged Fairfax Community News is feeling the brunt of the tough newspaper market. Antony Catalano is set to slash staffing numbers.
The market is sceptical that News Limited will be trumped in its attempts to buy James Packer's Consolidated Media and return to control of all of Fox Sports and half of Foxtel that it had before the Super League settlement 15 years ago. Plus other media news.
A truce has been declared in Melbourne's real estate advertising wars, with Antony Catalano's <em>Weekly Review</em> set to merge with Fairfax in a pioneering 50-50 joint venture.
Rumours are swirling this morning that Antony Catalano's trailblazing Melbourne property glossy the Weekly Review has been negotiating with Fairfax Media to sell half the publication for between $35 and $40 million, with Catalano slated to return to the company he called home for 18 years.
In today's Media Brief's: Christmas is coming to subs at <em>The Age</em>, Gremlins returned to the ABC control room, Jay Rosen names the best articles of 2010....by him and more.
The Victorian Government will probe Fairfax Media over its real-estate junkets program, after the company decided to extend the controversial free-trips scheme into 2011.
There might be another pre-poll debate between Julia Gillard and Tony Abbott. Plus, Fairfax talk about falling circulation and other media tid bits of the day.