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Reading: NZ Publisher Eyes Deal With Nine To Buy The Australian Financial Review
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B&T > Media > NZ Publisher Eyes Deal With Nine To Buy The Australian Financial Review
Media

NZ Publisher Eyes Deal With Nine To Buy The Australian Financial Review

Staff Writers
Published on: 15th November 2018 at 12:23 PM
Staff Writers
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A Kiwi publisher has signalled his intention to make a play for Fairfax Media masthead The Australian Financial Review via a consortium of wealthy investors.

Todd Scott, a former TV presenter who owns New Zealand’s The National Business Review, told The Australian Financial Review he has gathered a group of wealthy backers who are keen to purchase the publication, should the merger of Nine and Fairfax eventuate.

Scott said the motivation of the consortium – which includes a billionaire – is to unite the AFR, NBR and a Japan affiliate to focus on the tradition of business news.

“We’re deadly serious about business news. It’s about doing a job that needs to be done,” he said.

Todd Scott
Todd Scott

Failing this, Scott said the consortium would look at buying Stuff – one of Fairfax’s Kiwi media assets – instead.

Nine declined to comment when contacted by B&T.

After clearing the ACCC hurdle last week, Nine’s focus is now on securing the support of Fairfax’s shareholders on Monday to get this year’s biggest media deal over the line.

Subject to a positive shareholder vote (and subsequent court approval), the merger of Nine and Fairfax will be completed on Friday 7 December, with the first day of business as a combined group on Monday 10 December.

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TAGGED: Fairfax, Fairfax Media, Nine, The Australian Financial Review
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Staff Writers
By Staff Writers
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Staff Writers represent B&T's team of award-winning reporters. Here, you'll find articles crafted with industry experience spanning over 50 years. Our team of specialists brings together a wealth of knowledge and a commitment to delivering insightful, topical, and breaking news. With a deep understanding of advertising and media, our Staff Writers are dedicated to providing industry-leading analysis and reporting, both shaping the conversation and setting the benchmark for excellence.

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