Fairfax Media & Macquarie Radio confirm talks

Company News

Fairfax Media Limited (ASX:FXJ) and Macquarie Radio Network Limited (ASX:MRN) have confirmed they remain in ongoing talks. 
 
Both companies lodged the statements yesterday evening while noting the surrounding market speculation about a deal involving Fairfax Radio.
 
Fairfax papers say the two groups are closing in on a $200 million talkback radio merger less than one year after talks collapsed.
 
The reports suggest an imminent deal could be only days away from being tied-up and announced before Christmas. 
 
Fairfax Media reported a net profit of $225 million in the 2014 financial year.