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Gary from MacMost.com demonstrates several methods for compressing PDF files on a Mac. You don't need anything special to compress PDF files on your Mac; you can do it easily in Preview. There's a way to export them that compresses the images inside, but it's not the best. Gary shows you how to use Automator to build a custom compression tool with more control. He opens a sample PDF of an electric bill on his desktop that's 6.8 MB and shows how to compress it quickly and effectively.
