There is good news for Fairfax Media’s proposed merger with Rural Press, with the ACCC deciding not not oppose the merger and ordinary shareholders voting today overwhelmingly in favour of the plan.

Rural Press Chairman John B Fairfax says the next steps will now take place in the merger process that will again see a Fairfax family member in control of major metro newspapers and will also give Fairfax control of radio stations again.

“Following the very positive result from the Preferred Scheme earlier this month, today’s result is a positive outcome for Rural Press Shareholders. Having now received the approval of both classes of shareholders, we are nearing completion of the merger process with Fairfax Media,” explained John Fairfax.

The merger remains conditional on Federal Court approval of the Schemes. The ACCC accepted Fairfax Media’s undertaking to divest The Newcastle and Lake Macquarie Post and The Hunter Post in return for acceptance of the merger.

The next step is for final approval of the schemes to be sought from the Federal Court of Australia on 23 April 2007.