Fairfax snaps up more Melbourne newspapers

Fairfax has purchased two Melbourne suburban newspaper companies, The Independent News and Melbourne Community Newspapers, to add another five free weekly newspapers to its stable. They include the Frankston/Hastings Independent, Mornington and Southern Peninsula Mail, Cranbourne Independent, Dandenong Independent and the Chelsea, Mordialloc, Mentone Independent in addition to tourism publications.

The deal gives Fairfax an even greater foothold in the city following its purchase of Text Media in 2003, a $67.3 million takeover that gave it control over the Melbourne Herald, the Melbourne Weekly Magazine, Emerald Hill Times and the City Weekly.

However the purchase is not a reflection of its approach across other major cities with David Kirk, CEO of Fairfax, claiming there are too many barriers, namely News Limited’s Courier Mail for it to consider launching a daily publication in Brisbane and that it intends to stick to its plan of boosting its online auction presence in the north.

Simultaneously Fairfax has completed its acquisition of regional newspaper publisher Border Morning Mail Limited and upped its stakes in the company’s printing division from 51 per cent to 75.5 per cent.