Fairfax Media Director nominations for Macquarie Radio Network Board

25 March 2015

Fairfax Media Limited [ASX:FXJ] (Fairfax) today announced its nomination of two Fairfax Directors, Greg Hywood and James Millar, for appointment to the Board of Macquarie Radio Network Limited [ASX:MRN] (MRN). 

The nominations relate to the pending merger between MRN and Fairfax Radio Network (FRN), which was announced on 22 December 2014, with MRN to acquire 100% of the shares of FRN for a combination of shares and cash consideration. 

Completion of the merger is expected to occur on or about 31 March 2015, subject to all conditions precedent being satisfied or waived, with Fairfax to own 54.5% of MRN shares on issue. 

The Board of the enlarged MRN would comprise Jack Singleton, Russell Tate, Greg Hywood, James Millar, and one Independent Director who is yet to be determined.