Fairfax Media and News Limited are scheduled to hold talks this week about a potential joint printing venture which is tipped to save the two newspaper groups around $80 million.
Both newspaper groups want to combine their printing operations in Sydney and Melbourne, and it’s been speculated by industry insiders that an agreement will come in the next few months.
News Limited and Fairfax have declined to comment on the proposed printing venture however, AdNews understands a proposal has been in the works since News Corporation held discussions in the US earlier this year.
The talks follow last week’s stock market plummet, in which Fairfax shares took a battering.
In a week where more than $60 billion was stripped from Australian stocks, share prices in Fairfax continued to drop, closing at 82 cents at the end of trade on Friday.
News Limited shares lost some ground but have hovered around the $14.82 price since last Wednesday.
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