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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. Who are ...
Jul 26, 2018 · Nine Entertainment Group and Fairfax have agreed to a A$4bn ($2.9bn) merger to create one of Australia’s largest media companies, combining television, newspaper, radio and digital assets...
- Jamie Smyth
- 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...
Jul 26, 2018 · The merger is expected to deliver 50 million Australian dollars in annualized pro-forma cost savings, to be fully implemented over two years.
- Patty Huntington
Jul 26, 2018 · Under the proposed details of the takeover – which remain subject to shareholder and Australian Competition and Consumer Commission approval - Nine shareholders will own 51.1 percent of the combined entity with Fairfax shareholders owning the remaining 48.9 percent.
Jul 26, 2018 · Fairfax shareholders will receive consideration of 0.3627 Nine shares and $0.025 cash for each Fairfax share held. At the last closing price for Nine of $2.26/share, this implies consideration of $0.845/share or a total bid value of $1.9bn.
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Nov 28, 2018 · Follow our step by step instructions and learn how to handle the merger between Fairfax and Nine within your Sharesight portfolio.
