Money well spent

Fairfax is spending hansomely to entertain potential advertisers, according to today's Australian.

"...Several senior media buyers will travel courtesy of Fairfax to Double Island - which bills itself as Australia's most exclusive private island retreat - off the coast between Cairns and Port Douglas. Said media buyers, who may bring partners to the island with them, have been asked to attend a workshop on Saturday, when they will mull over some ideas for ways in which the publisher can find some of the $50 million in new revenue it is believed to be seeking. Some buyers have declined the invitation as inappropriate. It is understood Zenith Media, for example, is not attending."

No doubt, new Fairfax chief operating officer Brian Evans will pump any money sourced back into quality journalism.

Or not.

Crikey reported a few days ago that Fairfax will not be offering journalism traineeships next year. I can't confirm this - can anybody? - but it seems to fit into their corporate thinking.

Fairfax - the lifestyle publisher - continues its descent.