FAIRFAX Media has been removed from the S&P/ASX 100 Index, as two pure-play digital media companies join the rankings for the first time. Fairfax Media’s market capitalisation has dropped from $5 billion two years to just over $1 billion in the past 12 months. In other changes, struggling print company PMP has been removed from the all ordinaries index and APN News & Media has been removed from the top 200.