Seven West Media (SWM) and Fairfax are reportedly back at it again talking about a potential merger deal, with Nine Entertainment failing to reach an agreement with the latter.
A possible merger of SWM and Fairfax – estimated to be worth over $2.3 billion – is being discussed between the two parties, according to The Australian, with SWM’s share price volatility understood to be the only thing holding the deal back.
Merger talks between SWM and Fairfax were reported as being in their infancy in September last year. B&T has contacted both media companies for comment.
Rumours have been swirling for some time around Nine and Fairfax coming a little closer together – perhaps through a merger – and The Australian reported that talks did occur between the two parties.
However, the News Corp-owned publication reckons those talks fell through due to Nine CEO Hugh Marks wanting Fairfax to own under 20 per cent of the merged entity that was being proposed.
Nine declined to comment when contacted by B&T.