Australia: Fairfax Media /Rural Press merger
Posted by Allie Judson on December 7, 2006 at 10:34 AM
Australian media groups Fairfax Media and Rural Press have announced plans to merge creating one of the largest combined digital and print business in Australia. The deal’s value is estimated at $9 billion.
"The board of Rural Press believes the merger with Fairfax Media is a natural progression for the continued growth of the company's regional publishing businesses," said John B Fairfax, Chairman of the Rural Press board.
Fairfax is estimating that the merger will save the company a totally of $35 million a year within 18 months, and will also give the company the tools for expansion.
Source:ABC
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