Shareholders support major Australian media merger

CANBERRA, Australia (AP) — Shareholders have given final approval to the merger of television network Nine Entertainment and newspaper publisher Fairfax Media into an Australian media giant to be known only as Nine despite one shareholder’s late bid to stop the deal.

Antony Catalano is a former chief executive of the online real estate listings portal Domain Group which is majority-owned by Fairfax. He says he will ask the Federal Court to stop the merger.

Catalano owns shares in both Domain and Fairfax. He wrote to Fairfax chairman Nick Falloon late Sunday offering to buy 19.9 percent of Fairfax and asking for Monday’s Fairfax shareholders meeting to be delayed.

The Fairfax board said in a statement on Monday that it remained unanimously behind the merger with Nine which was endorsed by shareholders.

Categories: International News