Fairfax Media has plans to axe their creative advertising team in New Zealand and outsource work to India. The news was announced today by Chief Executive Allen Williams. They would still have a core team at each production hub but the majority of the work would be outsourced.

In a high profile deal worth $NZ21.6 million, Fairfax Media is all set to acquire tender notification service provider TenderLink. com, which is largest online tender or "e-tender" company in the southern hemisphere. The acquired company uses Software-as-a-Service (SaaS) model through which it provides electronic tendering solutions.

Fairfax Media Ltd has conveyed its tribute to the Christchurch Press at AGM for their performance, following the 7.1 strong on the Richter scale earthquake in Canterbury on 4th September, at its yearly meeting held in Melbourne today.

In the 90,000+ circulation category for daily newspapers, the Sydney Morning Herald has grabbed the first prize at Pacific Area Newspaper Publishers Association (PANPA), which is being held every year. Even last year, the prize was won by the Herald.
The award ceremony was held during a gala dinner in Sydney on Saturday night, where more than 450 newspaper executives marked their presence.

In the wake of the revamping pursued in Fairfax Media, the Company's director John B Fairfax today proclaimed that he will stand down, shortly.

The 68-year-old said that he will not consider his participation in the election after his current term. He is now seeking his retirement.

He told that as soon as he finishes his term, he will turn 70.

When more than 65,000 short selling positions were reckoned by the corporate regulator, Fairfax Media Ltd. appeared as the stock facing the most bearish response from the investors.

More than 570 different short sellers had wedged the short position reports under a new compulsory reporting system that began on June 1 said the Australian Securities and Investments Commission.