Fairfax Media's joint venture with Huffington Post is ending

Arianna Huffington. Photo: Jacopo Raule/Getty Images

HuffPost Australia’s joint venture with Fairfax Media has been terminated, a little over two years after it launched, with the Sydney-based digital publication to go it alone as a smaller venture from this Friday, December 1.

Australia was the 15th international edition of US publication and began in August 2015 as a joint venture with Fairfax. But Mumbrella reports that the decision to cease the agreement was made by the US parent company. Staff were told about its end today.

Fairfax is looking to redeploy some of the 30 staff involved but expects some redundancies.

Since its arrival in Australia, The Huffington Post, acquired by AOL in 2011, became part of Oath Inc. a subsidiary of Verizon Communications, which also owns Yahoo. In turn, the Australian market has seen more digital media competitors, such as the New York Times, arrive seeking its own slice of the country’s small digital advertising spend.

A statement from HuffPost Australia says, “HuffPost will operate a standalone Australian edition from December 1 with a smaller local team. If redeployment is not possible, regrettably redundancies will occur.”

Business Insider has contacted Fairfax Media for comment.

* Business Insider is published by Allure Media, a wholly owned subsidiary of Fairfax Media.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.