The Australian Financial Review will be moving a digital-only title in Western Australia due to a new contract from a Seven-owned business that doubled the cost of printing.
The AFR has been distributing a printed newspaper in WA for seven decades. The last print edition in the state will be on 22 May, coinciding with the Financial Review Mining Summit held in Perth.
Distribution of the magazines produced by the Financial Review will continue, with the glossy magazines sold separately in news agencies.
Colourpress is the only printer of major newspapers in WA, and is owned by competitor Seven. When the Nine-owned AFR suggested it was a targeted decision, a Seven spokesman responded by saying it was “a commercial decision” and that “to suggest anything else would be inaccurate and disingenuous.”
In response, the AFR will be focusing on enhancing the digital offering for WA readers and subscribers on afr.com, with an upgrade to the digital version of the physical paper.
“This decision is specific to Western Australia and has no impact on our papers and magazines in the rest of the country,” said Tory Maguire, managing director of Nine Publishing.
“We work very constructively with the printers of our newspapers and magazines to ensure the long-term sustainability of our print products, which continue to be profitable. Fortunately, the Financial Review is an incredibly successful digital publication, which has allowed us to make this decision in the best interests of our business.”
AFR editor-in-chief Michael Stutchbury added that the publication’s WA coverage was recognised most recently with journalists winning the business award at this year’s Quill Awards for Journalistic Excellence.
“The Financial Review digital readership is disproportionally the biggest of any newspaper brand in Australia and we are confident we can serve all West Australians interested in our award-winning journalism,” he said.