Nine-Fairfax Merger Complete


Nine Entertainment has identified an additional A$15 million ($11 million) in cost savings as its merger with Fairfax Media has now been implemented.

The initial estimate was for at least A$50 million ($36 million) in savings to be fully implemented over two years. Nine has confirmed that A$35 million ($25 million) has already been realized—with savings from duplicated corporate costs, sales and digital publishing. Additional cost-cutting measures have been identified, for a total of A$65 million ($47 million).

Nine will begin trading as a joint business as of Monday.