Fairfax Media (ASX: FXJ) and Macquarie Radio (ASX: MRN) are again in merger talks after discussions broke down two years ago

Fairfax Media (ASX: FXJ) and Macquarie Radio (ASX: MRN) are again in merger talks after discussions broke down two years ago. The two companies are in discussions over a venture where Fairfax would retain management control and a majority stake that would create a broadcaster with over $150 million in revenue. The combined entity would hold over 15 radio stations across Australia, including the major Sydney AM stations of 2UE and 2GB, and 3AW in Melbourne. Morgan Stanley recently valued Fairfax's radio assets at between $167 million to $269 million. This is compared to the failed $200 million to $250 million bid rumoured to have been offered by Macquarie Radio in 2011 for Fairfax's radio assets. (VIEW LINK)