Fairfax family secures major stake in print merger with Fairfax.

J.B Fairfax will hold the dominant shareholding

Twenty years after losing control of their family media company, the Fairfax family has secured the dominant shareholding in a $7.7 billion merger between Fairfax Media and Rural Press

Fairfax will offer a cash and scrip merger proposal for the entire issued capital of Rural Press and the combined business will have a market value of over $7.7 billion.

The merger positions the combined business to take advantage of rapid growth in online media, the companies said, although in percentage terms the forecast for digital revenues actual declines.

J.B. Fairfax owns 55 per cent of Rural Press and will be left with an estimated 13 per cent holding of the new entity, plus will pocket around $165 million. Rural Press will have two board members.