Tuesday 24 February 2009

Paper is a thing of the past

An amazing revelation from Fairfax today, that they are making more revenue from their online operations than from The Age and the Sydney Morning Herald, which used to be their known as the 'rivers of classified gold'.

"The single biggest component of the online profit has precious little to do with media in anything remotely like the traditional sense, far less journalism," The Australian reports. "And even less to do with Australia - it was the New Zealand Trade Me online advertising business."

The Age and Herald generated $47m in profit, whilst $51m, with around half that coming from the Kiwi's TradeMe website.

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