BRW TO SHUT DOWN
4 March 2016,
FAIRFAX Media (ASX: FXJ) is shutting down its BRW website, less than three years after the closure of the print magazine.
Launched in 1981 and known for its lists - Rich 200, Young Rich and Fast 100 - BRW will no longer exist as its own dedicated platform and will be integrated into the Australian Financial Review's new Leadership section under the Entrepreneur subcategory.
With the move effective on March 17, the once free platform will change its model to a pay wall, content accessible exclusively to AFR.com digital subscribers.
Readers can access the title's past lists for free and sign up for a one-month free trial subscription before being blocked by a pay wall.
This comes after Fairfax last month reported a 2.2 per cent slump in net profit after tax to $79.8 million for the half year to December.
In a statement released by Fairfax this morning, current BRW editor Michael Bailey said the restructuring has been undertaken in the name of better serving Australia's growing entrepreneurial culture.
Bailey will become entrepreneur editor, driving the online Leadership section, and new Entrepreneur section in Fairfax newspapers on Thursdays complimenting the long-running print Technology section.
Entrepreneur will replace Enterprise and will begin publishing on March 24.
"Entrepreneurship and start-up culture are no longer just happening on the fringes of Australian business," says Bailey.
"Large corporates are taking inspiration from this dynamic sector and I'm pleased to be helping the Financial Review uncover the stories of these job creators."
AFR editor in chief Michael Stutchbury says the new strategy will cover more than large corporations.
"We will keep track of the startup ecosystem, from the digital disrupters and entrepreneurs, to the innovation and venture capital efforts of the nation's biggest companies and universities," says Stutchbury.
AFR's Boss will continue as a monthly newspaper insert magazine.
Current editor of AFR's monthly magazine Boss, Joanne Gray, will take on the additional responsibly as AFR Leadership editor.
In its statement, Fairfax also said it will also be launching a new Leadership series of events in line with this editorial shakeup and an annual Business Person of the Year Award will form part of the new offering.