One of the biggest moves in the Australian media history is underway, with Nine Entertainment and Fairfax Media set to merge businesses, according to a report just published by Mumbrella Australia (scroll down for the link).
Nine reporter Zoe Samios announced the news on the Today Show this morning, telling the audience the deal would conclude by the end of 2018. Nine will become one of the biggest media companies under the proposed transaction
Under the proposed transaction, Nine will establish itself as one of Australia’s leading independent media companies, owning 51.1% of the combined entity. Fairfax shareholders will own the remaining the 48.9%.
- Read the full Mumbrella story here
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