Agreements with News Corp Australia: Fairfax Media Limited’s (ASX: FXJ) stock rose 2.86% on July 18, 2018 after the company signed the agreements with News Corp Australia under which the publishers will use each other’s printing networks. This agreement is considered under landmark initiatives and reflects a rational approach to the complex issues facing the industry. Moreover, as per the agreement, News Corp has to provide a range of printing services for FXJ in New South Wales and Queensland. FXJ will print publications for News Corp out of its North Richmond (NSW) plant and will transition work from its print centres in Beresfield (NSW) and Ormiston (Queensland). Once the work is complete, those sites will close and there will be no change to the availability of Fairfax newspapers. Additionally, this combination of the new arrangements, and the changes to FXJ’s printing network is expected to result in an annualised full-year benefit of approximately $15 million. The financial benefits are expected to begin towards the end of the first half of FY19. On the other hand, FXJ stock has risen 16.67% in three months as on July 17, 2018.
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