Fairfax Media has reportedly held talks about potentially offloading its regional media business Australian Community Media (ACM), according to The Australian.

The paper – owned by rival News Corp – reports Fairfax has been involved in meetings with US-based firm Platinum Equity which currently holds 70 per cent of shares in directory business Sensis. 

Australian Printer understands the potential deal between the two businesses is part of Fairfax CEO Greg Hywood’s plan to revamp the media outfit with a stronger focus on its digital business which includes real estate website, Domain.

The future of Fairfax has been under scrutiny after revelations the company would log a $989m impairment relating to its publishing segment ahead of its full-year results announcement to be made tomorrow.

According to Fairfax’s website, ACM's regional publications include 160 local newspapers and community-based websites such as The Canberra Times, Newcastle Herald, Launceston Examiner, Border Mail, Ballarat Courier and Illawarra Mercury.                                                                                                                                                                     If the deal goes through, it would follow in the footsteps of APN News & Media which offloaded its regional business ARM to News Corp in June.

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