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Jul 26, 2018 · Nine Entertainment Company (ASX:NEC) has announced a takeover of Fairfax Media (ASX:FXJ) in a move that will create a new media goliath in Australia worth $4 billion.
Jul 26, 2018 · Fairfax Media and Nine Entertainment announced on Thursday they were proposing to merge, with the new entity, to be called Nine, headed by the broadcaster’s chief executive Hugh Marks.
- Why Are Nine and Fairfax Merging?
- What's in It For Nine?
- What Will It Mean For Fairfax?
- What About domain?
- Is This A Done Deal?
- How Is This allowed?
- What Does It Mean For Employees? Will There Be Job Losses?
- What Does It Mean For The Rest of The Media Industry?
Nine and Fairfax are positioning themselves to remain profitable in a world increasingly dominated by digital media. The merger will allow them to pool assets, reduce costs and streamline management, to adapt to the changing environment. Both companies are profitable enterprises in their own right, so this merger is about ensuring their future prof...
The new combined company will be called Nine, and at a management level Nine will become the majority owner and run the company. Both it and its shareholders will benefit from the effective takeover of Fairfax' most lucrative assets, including the real estate portal, Domain, and its Macquarie Media radio interests. It will also benefit from access ...
The merger means Fairfax will lose its name, which means it's the end of the road for a company which has been part of the Australian media landscape for more than a century. But its newspapers — including its main mastheads, the Sydney Morning Herald, The Age, and the Australian Financial Review — are expected to continue as usualin both their pri...
Fairfax has already cast off its property portal Domain as a separate entity, although it retains 51 per cent ownership. Its majority ownership of Domain as well as other assets including its radio stations will now be owned and controlled by Nine.
Fairfax and Nine announced the merger to the Australian stock exchange this morning. It still needs formal approval from the Australian Competition and Consumer Commission (ACCC) and agreement from shareholders. But given that Nine is offering Fairfax shareholders a 22 per cent premium on the latest share price, the offer is generous and unlikely t...
The Federal Government made some big changes to Australia's media ownership lawslate last year, which have allowed this merger to go ahead. The changes effectively removed the restrictions that previously prevented companies owning newspapers, television and radio stations in the same city. They also abolished the "reach rule" which prevented a sin...
Most if not all mergers involve job losses at some stage. The most immediate changes, once the Fairfax-Nine merger takes effect, will be at management level. Nine's current chief executive, Hugh Marks, and chairman, Peter Costello, will both retain their positions in the new merged company. That raises questions about the future of Fairfax CEO Greg...
A successful merger between Nine and Fairfax is tipped to open the door to other such deals, particularly now that Australian media laws have been changed to remove restrictions on cross media ownership. The merger of Australia's second biggest free-to-air TV network with the second biggest newspaper publisher will result in a $4 billion-company th...
Dec 10, 2018 · Under the new integrated sales structure Nine will co-locate all of the 500-plus sales staff from Nine and Fairfax into its Nine sales offices in Sydney, Melbourne, Brisbane, Adelaide and Perth. This process is expected to be completed by early January.
Jul 26, 2018 · The deal wraps in Nine's television network, one of the nation's biggest, and Fairfax newspapers including The Sydney Morning Herald, Melbourne's The Age and The Australian Financial Review.
Jul 26, 2018 · In a joint announcement to the Australian Securities Exchange on Thursday morning, Nine Entertainment Co. Holdings Ltd. and Fairfax Media Ltd. said they had entered into a Scheme Implementation...
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Australian media ownership is already among the most concentrated in the world, but if the competition regulator approves the Nine-Fairfax deal, expect the race for survival to produce more...
