There are two reports today that shed light on Nine’s interest in a merger with another media player.
Fairfax reports Nine advisers approached Fairfax Media in late January to explore what a $3.3 billion merger of the two media companies would resemble.
Fairfax, which has joint ownership of Stan with Nine, accepted the meeting as a courtesy. But according to a statement from Fairfax chief executive Greg Hywood last year it has no interest in a merge.
“So there can be no doubt: Fairfax Media is not interested in buying a stake of any size in NEC,” he said.
Meanwhile The Australian reports CEO Hugh Marks recently briefed investors on a $2.2 billion merger with Southern Cross Media Group. He told potential investors in Hong Kong & Singapore there was a potential $90 million a year on offer from revenue and cost synergies.
But if Malcolm Turnbull proceeds with a double dissolution election for July 2, a media reform package, dropping the reach rule and 2 out of 3 rule, would be delayed.