Nine Network to take over Fairfax in estimated $4bn deal

Nine Entertainment has announced a takeover of Fairfax Media in a surprise deal worth an estimated $4bn. The merger, which the television network claims will create Australia’s largest integrated media player, was announced to the stock market on Thursday.

Nine will take a controlling 51.1% share in the new business with Fairfax taking the rest. The combined entity will take the name of Nine’s parent company, Nine Entertainment Co, or NEC

For the full story read the Guardian

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