INL shareholders okay sale


WELLINGTON: Shareholders of media magnate Rupert Murdoch's New Zealand group approved yesterday the NZ$1.2bil sale of its publishing operations to Australia's John Fairfax Holdings Ltd. 

With the purchase, Fairfax, one of Australia's two major newspaper publishers, becomes New Zealand's biggest media owner with a dozen dailies, three weekly newspapers and a raft of small community papers. It also takes control of dozens of magazine titles. 

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