November 18, 2018 / 11:53 PM / a month ago

Australia's Fairfax shareholders approve Nine buyout

Nov 19 (Reuters) - Newspaper publisher Fairfax Media Ltd said on Monday it received overwhelming support from its shareholders for the A$2.16 billion ($1.6 billion) buyout from television network Nine Entertainment Co Holdings Ltd .

The proposed buyout will be one of the biggest shake-ups in Australian media for decades and, pending court approval, will be implemented on Dec. 7.

Fairfax shares were up 2.4 percent by 2342 GMT while the broader market was 0.5 percent weaker. ($1 = 1.3667 Australian dollars) (Reporting by Chandini Monnappa in Bengaluru; Editing by Stephen Coates)

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