Fairfax to lose name in Nine merger

Fairfax Media and Nine Entertainment have announced plans to merge, creating Australia's largest media player.

Fairfax Media and Nine Entertainment have announced they will merge. Source: AAP

Fairfax Media and Nine Entertainment have announced plans to merge, creating Australia's largest media player.

The deal would see Nine shareholders own 51 per cent of the combined company, with Fairfax shareholders owning the remaining 49 per cent.

The combined business would be led by Nine chief executive Hugh Marks, while Nine chairman Peter Costello would lead the board.