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Fairfax Digital Media group has step into a new phase of Internet news coverage by launching its free access business, sport and technology sites. Ironically this will not only be in competition with other news group but its over paid sites.
In Feb07, online news group Ninemsn drop 8% while the overall market dropped by 1.6%. However according to Fair Digital Media boss Jack Matthews, the new Internet strategy is going to be a money maker despite market trends.
The reason for this as Matthews explain is the local approach (target market), like paper and TV news the site will concentrate on local news and what’s happening nationally vs. international which competes with more site.
Hence Mathews is suggesting that Fairfax is expanding the market (which Ninemsn has grown over the year) and not competing at other companies’ expense. At current the strategy seems to be success with 50,000 users in the first two days.
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