Nine Buys Fairfax for $1.6 Billion to Create Australia's Biggest Media Firm

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Newspaper publisher Fairfax Media Ltd (FXJ.AX) said on Thursday it had agreed to a A$2.16 billion ($1.6 billion) buyout from television network Nine Entertainment Co Holdings Ltd (NEC.AX), in one of the biggest shake-ups in Australian media for decades.

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