The World: Sydney - Fairfax seeks shop as it reviews media arrangement

Fairfax Media is on the hunt for an agency to handle its media account.

The company, which owns newspapers including The Sydney Morning Herald, The Age and The Australian Financial Review, currently uses Initiative as its lead media agency.

But sources suggest that Fairfax is putting together a shortlist for the account, with Mitchell & Partners tipped as the most likely to win the business.

Fairfax spent around AUS $27.4 million in the year to August 2008, most of which on digital properties, such as Mycareer.com.au and Drive.com.au.