The Australian media mogul has taken a direct shareholding in a bid to buy Fairfax radio assets.

By contrast, online auction Trade Me's goodwill was bumped up to $A574 million from $A559.3 million, even though Fairfax sold down its stake.

Fairfax Media shares jump 7.4% after the company says it will put content behind a digital paywall and pare back costs.

Troubled Australasian publisher Fairfax Media has confirmed it will shift 66 sub-editing jobs on some of its Australian regional newspapers to New Zealand.

The Australian media group that has taken charges of more than $A1 billion against mastheads and goodwill since 2010, says sales continued to slide in its second half of this year.

Australia-based printing and distribution company PMP has again downgraded annual profit expectations and plans even deeper cost cuts.