Independent publishers and startups will get a chance to make a success of 28 local newspapers as Fairfax Media puts more than a third of its New Zealand print titles on the block.

Presenting half-yearly figures which showed group net profit of A$38.5 million - just over half that for the same period last year - it announced that 35 per cent of its NZ print titles are to be sold or closed.

The titles are regional free newspapers and agricultural publications, and Fairfax says major metropolitan and regional city newspapers are not on its disposal list.

The announcement by group chief executive Greg Hywood comes as Fairfax still awaits an outcome from its appeal against plans to sell the whole NZ unit - now rebranded Stuff - to rival NZME. At the same time, it has written down its portfolio of NZ mastheads to $175.2 million, a stark contrast to the $1.12 billion it paid to acquire them from the Murdoch-owned Independent Newspapers in 2003.

It is not clear what NZME's position is on the disposals, but it is likely to have supported the decision.

While privately-owned regional newspapers are generally performing better than their big-city counterparts - the latter frequently contemplating cutting midweek editions or print altogether - Fairfax has struggled in the market and has already closed some NZ titles.

Last year's rebranding of the NZ unit as Stuff is also indicative of its group-wide focus on digital publishing, revenue from which rose by a third to $24.2 million. Hywood expressed "enormous confidence that Stuff is heading towards sustained growth as its digital business continues its strong momentum".

Group revenue for the period was $877.1 million, with New Zealand media revenue contributing $160 million, down by 4.5 per cent.

The NZ titles to be sold or closed are: Avenues, Waikato Farmer, Admire Marlborough, NZ Dairy Farmer, Discover Magazine, Selwyn and Ashburton Outlook, Admire Nelson, Hastings Mail, Christchurch Mail, Napier Mail, The Tribune, Kaikoura Star, Invercargill Eye, Auto Xtra, South Canterbury Herald, Clutha Leader, Waiheke Marketplace, NewsLink, Wairarapa News, Queenstown Mirror, NZ Farmer, Waitaki Herald, Canterbury Farmer, North Waikato News, Central District Farmer, Rotorua Review, Otago Southland Farmer, Ruapehu Press.

On its website, Fairfax extols the role of its print newspapers and magazines, "the heart of their communities", and their ability to "cut through the digital clutter".

"Putting a newspaper or magazine in someone's hands means they're more engaged than if they were staring at a screen. People remember more of what they read in print because of its tactile nature," it says.

Pictured: Some of the titles Fairfax is disposing of