Nine Entertainment steps closer to merging with Fairfax

Company News

by Jessica Amir

Nine Entertainment Co. Holdings (ASX:NEC) CEO Hugh Marks reiterated the benefits of the merger with Fairfax (ASX:FXJ), as he addressed shareholders at Nine’s AGM today. 

He says the merger will play an important role in shaping Australia’s media landscape, allowing the businesses to deliver new opportunities, and innovate, accelerating its actions to build a leading media business. 

The ACCC recently cleared the merger and Fairfax shareholders will cast their votes on the merger next week and Nine says it’s confident they’ll get behind it. 

Nine shares are have fallen by 33 per cent over the past six months, but if you zoom out to year-on-year, its shares are trading 2.6 per cent higher. 

Today its shares are trading 0.95 per cent higher to $1.59. 

 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter.