Fairfax Media shareholders vote in favour of Nine merger

Lindsay Bennett
By Lindsay Bennett | 19 November 2018
Greg Hywood and Hugh Marks

Fairfax Media shareholders have voted in favour of the merger with Nine, with 81.49% of shareholders approving plans for the two companies to merge by the end of the year.

The historic deal will go ahead despite a last minute attempt by former Domain chief executive Antony Catalano to stop the publisher's merger with Nine.

Speaking at the company's annual general meeting today, the board said Catalano's letter, in which he proposed to buy 19.9% of Fairfax shares, "did not constitute a superior proposal" to that of the Nine merger.

Proxies voted 94.2% for the scheme arrangement, representing 66% of shareholders.

The merger, which has already been approved by the competition watchdog, now faces final court approval on November 27 as its final hurdle.

During the AGM, shareholders questioned Nine's commitment to print and independent journalism, how many staff will be made redundant and Nine's experience in radio and newspapers.

 

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