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Fairfax to monetise more online content

Chief executive McCarthy said the company is also aiming to create a better mix of content across pr

Australian media company Fairfax Media on Tuesday announced that it is restructuring its metropolitan newspaper arm in an attempt to boost efficiency and monetise more of its online content.

Under the restructure, flagship publications the Sydney Morning Herald and the Age, along with Fairfax's websites and classified businesses, will be folded into a single business unit.

Chief executive Brian McCarthy said the publishing company is also aiming towards creating a better mix of content across print and online, so that the print product does not duplicate the online content.

"We have been monetising content in the AFR [Australian Financial Review] for some time, very successfully and that's a niche audience. It's a lot easier when you have a niche audience than when you have broadbased news. So to just put pay walls up I don't think is necessarily the answer today where you have just news sites," he added.

The company hopes that iPad and iPhone apps will contribute to its profits.