Rural Press to merge with John Fairfax

The merger creates a media company with an enterprise value of A$9 billion and makes it harder for potential suitors to buy the Australian newspaper group.

Australian print publisher John Fairfax Holdings has announced a cash and scrip acquisition of the entire issued capital of Rural Press to create a A$9 billion $7.08 billion media company.

Fairfax titles include The Sydney Morning Herald, The Age, The Australian Financial Review and several specialist magazines from which the company generated revenues of $1.9 billion for the financial year ended June 30, 2006.

With Rural Press, it will add to its portfolio 170 regional titles and more...

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