Former Network Ten boss Nick Falloon is making a media comeback as chairman of Fairfax.
The industry veteran was appointed non-executive director of Fairfax on Thursday and will replace outgoing chair Roger Corbett in August.
He brings a wealth of media industry experience to Fairfax, which has been undergoing a massive restructure to cut costs and restore profits amid declining advertising revenues.
Mr Falloon served as Ten's executive chairman between 2002 and 2010, during which time the broadcaster enjoyed several years of ratings success with hit shows such as Big Brother.
He joined Ten from the then-Packer family controlled Publishing and Broadcasting Ltd, which he headed for 18 years.
Mr Corbett, who has been Fairfax chairman since 2009, had previously flagged his intention to step down from his post.
Fairfax said he would leave the media company, whose newspaper stable includes The Age and The Sydney Morning Herald, after its next earnings results were announced in August.
Some industry watchers have speculated that Mr Falloon's appointment at Fairfax could pave the way for a possible merger with the ailing Ten.
But Fusion Strategy managing director Steve Allen said such a deal was unlikely given the history between Mr Falloon and Ten's billionaire shareholder James Packer.
Mr Falloon resigned from Ten in 2010 in an effort to break a deadlock between the broadcaster and Mr Packer and fellow director Lachlan Murdoch over requests for additional board seats.
Mr Allen said at the time Mr Packer was believed to have called on the Ten board to cut Mr Falloon loose.
"Given his treatment, I doubt whether he has got any closeness to the Ten board," Mr Allen said.
"I'm sure he could make friends again if he thought it was a good idea. As to whether Fairfax would want to own a TV network, I'm not so sure."
Mr Falloon's appointment at Fairfax comes after dissatisfaction among some shareholders about the lack of media industry experience in the boardroom.
Fairfax shares closed three cents lower at 94 cents.
