Channel Nine and Fairfax media will merge to form one corporate entity, it's been announced.
Channel Nine announced the merge this morning. The merged company will be called Nine.
It's believed the deal is worth around $4 billion.
Fairfax senior staff say they were left in the dark about the announcement of a merger and many senior editorial staff have revealed they received an email from Fairfax CEO Greg Hywood at the same time as the news broke on television.