Anthony Catalano, a former Domain CEO, has recently confirmed that he will be starting a legal dispute to stop the merger of one of the largest media companies in Australia and New Zealand. The newspaper, magazines, radio and digital properties investment company, Fairfax Media, is planning a merger with Nine Entertainment, an Australian and publicly listed media company.
Fairfax investors overwhelmingly approved the merger last week but the deal still needs court approval.
Catalano confirmed to Fairfax Media that his lawyers would be submitting documentation to the Federal Court, with “three or four points” likely to be contested.
“The desired outcome is for the scheme to be rejected,” Catalano said. He declined to specify further about the content of his legal action.
It’s understood the Australian Securities and Investments Commission (ASIC) is seeking information about whether there were shareholders who would’ve voted differently at the scheme meeting had they been aware of the proposal.
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