Australia’s Fairfax Media books loss

Sydney: Australian publisher Fairfax Media reported a loss of close to A$900 million ($692 million; Dh2.52 billion) on Wednesday but remained upbeat on signs that its digital and non-print businesses were performing strongly. Fairfax — which owns The Sydney Morning Herald, The Age and The Australian Financial Review — booked a net loss after tax of A$893.5 million for the year to June 30. This compared to a net profit of more than A$80 million in the previous corresponding period. The media giant, like its international peers, has for years been battling declining advertising and revenues, particularly in traditional print divisions.