Both optimism and concern at Fairfax deal

While Nine and Fairfax management both hailed Fairfax shareholders' approval of their merger, others are wary about the reduced competition in news and media.

Fairfax chairman Nick Falloon (left) and CEO Greg Hywood warmly greeted the vote to merge with Nine. (AAP)

* FAIRFAX MEDIA CEO GREG HYWOOD:

The company is entering the next phase in its more than century-long development. Our businesses and our journalism are well positioned to continue to be the most compelling voices for the years ahead.

* FAIRFAX MEDIA CHAIRMAN NICK FALLOON:

This board, in considering this merger, considered the value to shareholders, and the social value, of continuing strong independent journalism into the future.

* NINE CHIEF EXECUTIVE HUGH MARKS:

This is great news and a sign of confidence in the opportunities this merger presents.

* MEDIA, ENTERTAINMENT AND ARTS ALLIANCE:

Two large companies will be one, but this is a partnership that jeopardises not only media diversity, but threatens the scale of public interest journalism, especially in our regions.

* FEDERAL OPPOSITION LEADER BILL SHORTEN:

I am concerned that, when you create a greater concentration of media power, diversity will be the casualty.

* PRIME MINISTER SCOTT MORRISON:

I always have a live and let live view on the Australian economy. And this is what people have decided to do with the companies that they own.