Fairfax Media, the owner of Stuff in New Zealand, has announced it will merge with television company Nine in Australia.
The deal is currently subject to shareholder approvals, a process that would take several months to complete.
Upon completion of the deal, the combined entity will be called Nine.
Under the proposed transaction, Nine shareholders would own 51.1 per cent of the combined entity while Fairfax would own the remaining 48.9 per cent.
The combined business would be led by Nine's current chief executive Hugh Marks and chaired by Nine's Peter Costello.