Fairfax Media is set to put its main media account out to pitch with sources confirming they are compiling a short list.
The account has been with Initiative since 2004 and according to Nielsen its main media spend totaled $27.4m in the year to August 2008, down from $34.9m in the previous year.
A majority of the media is spent on Fairfax Digital properties with $17.8m spent on Mycareer.com.au, Domain.com.au, Afr.com, Drive.com.au and RSVP.
While the main mastheads The Sydney Morning Herald, The Age and The Australian Financial Review account for just over $7m of the account.
Sources suggest Mitchell’s & Partners to be the most likely agency take over the account, however Mitchell’s CEO Stuart Mitchell declined to discuss any negotiations with the media company.
A Fairfax Media spokesman also declined to comment on the pitch or when a pitch would be announced.
Since Initiative was appointed to the account Fairfax has merged with Rural Press and bought a series of Southern Cross Broadcasting group assets, including talk radio stations 2UE and 3AW, and production company Southern Star, which it is now trying to re-sell. The company has also expanded its digital offerings with the launch of WAToday.com.au and Brisbanetimes.com.au.
