RURAL PRESS

Rural Press Limited was an Australian media company which owned approximately 170 newspaper and magazine titles, The Canberra Times being the most prominent. These were predominantly in rural Australia, though it also owned a number of agricultural publications in the United States and New Zealand. It also owned radio stations in regional South Australia and Queensland, a range of Australian classified advertising websites, and Australian commercial printing plants. On 6 December 2006 it was ... announced that Rural Press Limited and John Fairfax Holdings would merge to form a new company estimated in value at $12 billion. Under the deal, the family company of Rural Press chairman John B. Fairfax (who did not have an interest in the company bearing his family's name) would take a 13.5 per cent stake in the merged entity. This was just short of a controlling interest, but gave Fairfax a potential blocking stake if Publishing and Broadcasting Limited, News Corporation, the Seven Network or a private equity raider embarked on a hostile takeover, as had been widely anticipated following the Federal Parliament's passage of new media laws on October 18, 2006. The merger with Fairfax was completed on 8 May 2007.More