Business as usual for Macquarie Media: CEO Adam Lang

With today’s proposed merger announcement of Fairfax and Nine, what is the status of Macquarie Media?

The answer is “business as usual” according to CEO Adam Lang.

Lang has told radioinfo:

If the Scheme proceeds as recommended, our major shareholder will change from Fairfax Media to Nine.

For everyone at Macquarie Media, this means business as usual.

In the details document issued today as the merger was announced, the new merged entity says it will “review” its assets, including its 51% share holding in Macquarie Media.

The combined entities will “unlock the potential for significant value creation by combining the content, brands, audience reach and data across the respective businesses, including majority owned group companies Domain and Macquarie Media,” according to information in the document.

After completing the proposed transaction, Nine will “review the scope and breadth of the combined business, to align with its strategic objectives.”

Macquarie Media shares closed up 3% at $1.65 per share at the end of today’s trading. Fairfax shares also closed up, at 84 cents per share, at the end fo today’s trading.


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