Analyse the merger between Nine Entertainment Co. and Fairfax Media Ltd. Analyse the deal based on the information available at the time of the deal announcement.

Your write-up should be organised in three sections as detailed below: 1. Overview of the acquirer (Nine) and the target (Fairfax) This will include description of the businesses and segments of the acquirer and the target. Size of the businesses and segments should be included in the description. 2. Industry (external) analysis and company (internal) analysis: [Use concepts from lecture 2 for this part.] " The industry analysis should focus on regulatory, structural and/or cyclical changes and industry trends that are affecting the industry and how these are affecting the businesses of the acquirer and the target. Company analysis should include both qualitative and quantitative analysis. Financial analysis of the recent (last 5 years) performance of the acquirer and the target should be included. 3. Deal rationale: Using tools and concepts from lecture I (and the three slides on synergy in lecture 3). describe the motivations and the rationale for the deal. o What are the sources of synergy and value creation? Be specific and detailed and use the terminology introduced in the lecture. o What other objectives/ reasons are behind the deal? o Are there bad reasons for the deal