News Broadcasting
Fairfax Media receives revised TPG indicative offer
MUMBAI: Fairfax Media Limited has received a revised, indicative, preliminary and non-binding proposal from a consortium including TPG Group (TPG) and Ontario Teachers’ Pension Plan Board (together with its affiliates, OTTP) (collectively, the TPG Consortium) to acquire 100% of the shares in Fairfax (on a fully diluted basis) at a price of $1.20 per share (less the value of any dividends or other distributions declared, proposed or paid after 14 May 2017), with all consideration being in cash (Revised Indicative Proposal).
Earlier, on 5 May, Fairfax had received an unsolicited indicative proposal from TPG Consortium. Macquarie Capital and Herbert Smith Freehills are advising Fairfax.
The Revised Indicative Proposal follows the Indicative Proposal of $1.20 – $1.25 per share, which was recently received from the TPG Consortium, as announced on 8 May 2017.
The Revised Indicative Proposal is subject to a number of conditions, including due diligence, shareholder approval at a Fairfax scheme meeting which would be required to implement the Revised Indicative Proposal, and obtaining requisite regulatory approvals, including approval from the Australian Foreign Investment Review Board (FIRB) and New Zealand Overseas Investment Office (OIO), and other conditions outlined below.
The Fairfax Board of Directors is reviewing the Revised Indicative Proposal. The Fairfax Board notes that there is no certainty that the Revised Indicative Proposal will result in an offer for Fairfax, what the terms of any offer would be, or whether there will be a recommendation by the Fairfax Board.
Fairfax shareholders do not need to take any action in response to the Revised Indicative Proposal and the Fairfax Board will update shareholders when it has been fully assessed.
Regardless of whether the Revised Indicative Proposal proceeds to an offer for Fairfax, the Fairfax Board believes that Fairfax has an announced strategy for the future that will deliver value for shareholders. Fairfax is continuing to progress the preparation for the announced potential separation of Domain Group.
Fairfax, on 5 May, received an unsolicited, preliminary, non-binding indication of interest from a consortium including TPG Group (TPG) and Ontario Teachers’ Pension Plan Board (together with its affiliates, OTTP) (collectively, the TPG Consortium) to acquire Fairfax for a combination of cash and scrip consideration in a newly listed vehicle (Indicative Proposal).
The effect of the Indicative Proposal, if implemented, would be for the TPG Consortium to acquire Domain, Australian Metro Media, Events and Digital Ventures (excluding Stan) for cash consideration of $0.95 per share; while existing Fairfax shareholders would retain 100% of Australian Community Media, New Zealand Publishing, and shareholdings in Macquarie Media Limited and Stan, through a distribution to them of scrip in a listed vehicle containing those businesses and the existing Fairfax net indebtedness.
The Indicative Proposal is subject to a number of conditions, including due diligence, shareholder approval at the Fairfax scheme meetings which would be required to implement the Indicative Proposal, and obtaining requisite regulatory approvals, including Foreign Investment Review Board (FIRB) approval.
News Broadcasting
TV9 to host What India Thinks Today Summit 2026 in Delhi
PM Narendra Modi to keynote two day forum on India and the world
NEW DELHI: TV9 Network is gearing up to host the fourth edition of its flagship What India Thinks Today Summit 2026 on March 23 and 24 in the national capital, bringing together a wide spectrum of voices to debate India’s place in a shifting global order.
The summit will open with a keynote address by Narendra Modi, setting the tone for this year’s theme, “India and the world”, as the country positions itself at the crossroads of economic growth, geopolitical shifts and technological change.
From cabinet ministers to chief ministers, business leaders to cultural figures, the event promises a crowded stage and a lively exchange of ideas. Union ministers such as Piyush Goyal and Jyotiraditya Scindia are expected to attend, alongside state leaders including Mohan Yadav, Pushkar Singh Dhami, Bhajan Lal Sharma, Nayab Singh Saini and Bhagwant Mann.
Political voices from across the aisle, including Smriti Irani, Akhilesh Yadav and Asaduddin Owaisi, will also join the conversation, ensuring that the debates are as diverse as they are dynamic.
Adding a cultural and sporting touch, personalities such as yoga guru Swami Ramdev, poet Kumar Vishwas and cricketing names like Sourav Ganguly, Axar Patel and Arshdeep Singh are set to share the stage. Global business leaders and diplomats will further widen the lens, reflecting the summit’s international outlook.
Speaking ahead of the event, TV9 Network managing director and chief executive officer Barun Das, said India stands at a unique moment in history, combining demographic strength, technological capability and entrepreneurial energy. He noted that in uncertain times, honest conversations and bold ideas will shape the country’s trajectory.
The summit will explore themes ranging from economic growth and governance to innovation, sustainability and culture, positioning itself as a platform for dialogue at a time when the world is in flux.
With a packed agenda and a high-profile guest list, What India Thinks Today Summit 2026 aims to do more than just talk. It seeks to capture a moment where India is not only part of the global conversation, but increasingly helping lead it.
