Done & Done! Proposed Nine-Fairfax Merger To Become A Reality, As Federal Court Approves
Nine Entertainment and Fairfax Media have cleared the final hurdle to become one, with the Federal Court of Australia approving the merger of the two media companies this morning.
However, the court’s decision to approve the deal wasn’t met without a challenge from former Domain CEO Antony Catalano and Aurora Funds Management. Both launched separate applications to scuttle the merger, but were unsuccessful.
Catalano’s intention to block the Nine-Fairfax merger was already known, with the ex-Domain chief having sent a letter to Fairfax chairman Nick Falloon the night before shareholders approved the deal with an alternative offer.
However, Fairfax didn’t consider Catalano’s offer of buying 19.9 per cent of the company’s shares and returning cash to shareholders by selling non-core assets as an alternative to the deal with Nine because it “[did] not constitute a superior proposal”.
The Federal Court’s decision also came after the Australian Competition and Consumer Commission (ACCC) announced it would not oppose the Nine-Fairfax merger, despite repeated calls for it to be blocked by the Media, Entertainment and Arts Alliance (which you can read about here and here).
The new company, which will be known as Nine, will begin operating on 10 December. Catalanoand Aurora have until 7 December to appeal the court’s decision.
In a note to staff following the court’s decision, Nine CEO Hugh Marks said: “This deal is all about our strategy for the future together and it promises exciting opportunities for our employees, our clients and our audiences.
“Together, we will provide our audiences with the best of entertainment and quality journalism on the platform they choose. As one company.
“Today, we begin the final planning for our first day of operation, Monday December 10. There is still much to do, and the teams at Nine and Fairfax have been working together with goodwill from both sides to ensure a smooth and successful transition.
“Over the next fortnight, we will be in a position to share the new organisational structure and impact on the key divisions of the business.”
Last month, Nine and Fairfax revealed a two-year, $50 million cost savings plan for once they join forces, with media sales teams in the firing line.
Please login with linkedin to comment
Fairfax Fairfax Media federal court Nine Nine Entertainent Nine-FairfaxLatest News
Nine’s Love Island Australia Gets Premiere Date
The sexiest singles in the nation (according to Channel Nine, at least) are back on airwaves with Love Island Australia on Monday, October 4, at 9.00pm after The Block on Channel 9 and 9Now. Aussie sweetheart Sophie Monk will return to host (and play Cupid) alongside new addition, comedian Stephen Mullan a narrator, in the world-renowned reality TV […]
Yotpo Expands Down Under With Multi-Year Shopify Partnership
Yotpo is officially expanding into Australia, off the back of significant market growth with massive Aussie names, a landmark investment from Shopify and a plan to help local Aussie e-comm explode. Yotpo’s ANZ userbase includes names like Zoe Foster Blake’s $180M Go-To Skin Care, e-commerce fashion queen Princess Polly, and billion-dollar streetwear brand Culture Kings, […]
Why Partnerships Are Key For The Comeback Of Travel Marketing
This expert takes a look at travel post-lockdown. B&T says just include a 'drinks package' & we don't care where we go.
Thinkerbell Wins The Salvos’ Strategy & Comms
There is no finer folk than the goodly Salvos. After all, who couldn't do with a little more tambourine in their lives.
Progress Unveils Sitefinity DX 14.0 Platform
Progress has today announced the availability of Progress Sitefinity DX 14.0. This agile, flexible and extensible platform allows organisations to create an ideal digital experience platform (DXP) tailored to their unique needs and objectives with new capabilities for low-code integration and chat-driven engagement, as well as enhanced headless content delivery. The digital world is transforming […]
Amazon Prime Video And LADbible Australia Team Up For Investigative Doco Series UNHEARD
Amazon Prime Video today announced a ground-breaking new six-episode documentary series, UNHEARD, the first feature produced by LADbible Australia Originals and with production funding from Screen Australia.
AACTA’s Reg Grundy Award Returns For 2021
These awards are a fitting tribute to the late, great Reg Grundy. And by that we don't mean your underpants.
Snap Appoints Jacqueline Beauchere To Global Head Of Platform Safety
Today Snap announces longtime online safety advocate Jacqueline Beauchere (formerly Microsoft) as its first Global Head of Platform Safety, part of Snap’s long-held and ongoing commitment to the safety and wellbeing of Snapchatters.
Man Who Ate 259 Pizzas In The Past Year Named Domino’s’ Biggest Pepperoni Fan (& Wins Year’s Supply)
Domino's biggest fan wins a year's supply of pizza. However, doubts cast whether he'll live long enough to claim prize.
Courtney Act, Ricki-Lee, Grant Denyer And More Cast In Second Season Of Dancing With The Stars: All Stars
Sadly, Alan Jones, John Barilaro or Ben Robert-Smith NOT named in cast of Dancing With The Stars: All Stars.
Australia’s Favourite Streaming Services Revealed
No surprises on who's topped our favourite streaming services. Unless you went for Fetch, then there's real surprises.
Confirmed! Tony Armstrong Does Have An OnlyFans Account
Tony Armstrong confirms he has an OnlyFans account. And, better still, he confirms he'll be keeping his clothes on.
Seven Announces The David Leckie Scholarship Program
Always wanted to work in TV? Then this scholarship is for you. Being attractive with good teeth probably helps too.
Tangram Signs Strategic Partnership With monday.com
Tangram has announced that they have signed a partnership with monday.com. the work operating system (Work OS) where organizations of any size can create the tools and processes, they need to manage every aspect of their work. Israeli-based monday.com and Australian-based Tangram form an irresistible team of experts offering unique solutions to agency problems. monday.com […]
New Confused.Com Study Shows BMW Is The World’s Most Photographed Car Brand
Study finds BMW is the most photographed car brand. And it appears all bad news for owners of the Camira or Tarago.
Sunday TV Wrap: Brownlows Rake In Just Under 900,000
Admittedly, B&T only tunes in to the Brownlows to see all the frocks. And to see Sam Newman make an idiot of himself.
Unwrapping Retail Insights And Trends With Microsoft Advertising
Be first with the all the latest retail trends with this report. Sadly, no news on the return of the Bunnings sausage.
The Monkeys Play For Laughs In New Work For Nearmap
Here's some fun stuff from The Monkeys team. After six views, B&T's still not sure what it's even advertising, however.
Sorrell’s S4 Makes Latest Play Snaring Tech Service Provider Zemoga
Sir Martin forced to queue for an hour down his local bank branch as chequebook runs dry following latest acquisition.
AAMI Reunites TV Lovebirds Rhonda & Ketut For Pro-Vax Ad Via Ogilvy
AAMI reprises Rhonda & Ketut for new pro-vax ad. Still hiring supermodels in its call centres by the looks of things.
SCA Appoints Two New Senior Sales Insight Directors For SCA IQ
SCA appoints two new senior sales directors who claim to have never even heard of that Sandilands fellow.
Yahoo Australia Inks Deal With Google For News Showcase
In further evidence the tech giants can play nice comes this news. Yet, Apple & Facebook still at each other's throats.
Commercial Radio Ad Revenue Up 16.8% In August
Commercial radio ad revenues soar for August, as Alan confirms he's still waking up at 3.30am after all these years.
Cannes LIONS Releases Global Creativity Rankings, With Aussies A No-Show
The global creativity rankings are in, with Aussies a conspicuous no-show. No mention of our new nuclear subs, however.
Are Media Names New Editors Of Woman’s Day, TV Week And Take 5
Are Media thought it was irritable bowel for a moment, but it turned out just to be its three new internal editor hires.
Aussie And The General Store “Sign Here” For First Campaign Since Lendi Merger
With historic low interest rates, you can now borrow enough money to still be in debt when you turn 152.
Adland Veteran Sheryl Marjoram Returns As DDB’s New Group Sydney CEO
After two decades in the UK, Sheryl Marjoram returns to DDB Sydney. Adds she's disappointed about the monorail closing.
Kirsty Muddle Promoted To CEO Of Cummins&Partners
Kirsty Muddle has undoubtedly one of the biggest brains in adland. Not to infer she can't wear a fascinator on Cup day.
Eyeota Enhances Reach And Targeting Precision For RDA Research
Leading Australian market research data brand, RDA Research, provides actionable consumer intelligence to help businesses inform decision making and growth strategies. RDA Research wanted to make its unique consumer data available for addressable digital targeting and required a data onboarding partner to help activate their data in an online environment.
Enthral Strengthens Journalistic DNA By Hiring Channel 7 Reporter Sean Sowerby
Storytelling agency Enthral has appointed Channel 7 reporter and sports presenter Sean Sowerby as its new senior PR and content manager in Melbourne. Sowerby (pictured) started his award-winning career at 3AW before spending more than 15 years in television. Enthral founder and manager director, Cameron Smith, spoke of the significance of Sowerby joining the agency. […]
