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The founder of a media dynasty, John Fairfax. Image: State Library of New South Wales, Flickr.

Media companies Nine and Fairfax stunned the country yesterday, announcing they will merge with Nine taking a controlling share of the new business.

The deal gives broadcaster Channel Nine Fairfax’s newspapers, radio stations, real estate website Domain and streaming service Stan, further increasing its share of the Australian media market.

Concerns have already been raised about how this will affect the diversity of news and opinion in Australia.

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