Nine Entertainment Co responds to takeover reports

Company News

by Anna Napoli

Nine Entertainment Co (ASX:NEC) has responded to a report in the Australian Newspaper regarding a potential takeover by Nine of Macquarie Media.

The report stated that talks were underway between Nine, which is the new owner of Fairfax, and, Macquarie with the two companies believed to be talking numbers.

Nine has confirmed it has had some preliminary discussions regarding the outstanding shares in the radio network, and, says it will make a further announcement should discussions progress to a transaction.

The $4 billion Nine-Fairfax merger is due to take place on Friday.

Shares in Nine Entertainment Co (ASX:NEC) trading 3.98 per cent lower at $1.69
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.