The proposed merged media giant will include Nine's free-to-air television network, digital advertising businesses (such as Domain), streaming services Stan and 9Now, Fairfax's newspapers and online publications, as well as Fairfax's Macquarie Media radio interests.įairfax's investors reacted enthusiastically to the tie-up, sending the company's shares 12 per cent higher to 86 cents shortly after 11:00am (AEST). 'The structure of the proposed transaction provides an exciting opportunity for our shareholders to maintain their exposure to Fairfax's growing businesses whilst also participating in the combination benefits with Nine,' Fairfax's chairman Nick Falloon said in a statement.

Fairfax's directors have unanimously recommended the deal, unless another company comes in with a better offer.