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Fairfax Media: Expected to mount a full takeover of Metro Media Publishing Holdings. Photo: Michel O'Sullivan

Fairfax Media is expected to mount a full takeover of Antony Catalano's Metro Media Publishing Holdings before Christmas, a source close to the deal says.

Fairfax owner ofThe Age, The Sydney Morning Herald and The Australian Financial Review already owns half of the company that publishes weekly real estate and lifestyle magazines as well as a range of websites, includingreviewproperty.com.au.

It is understood the price-tag for the remaining 50 per cent stake, which Mr Catalano own with a handful of real estate agents, could fetch up to $75 million.

This would value the entire holdings company at $150 million, or 8.5 times earnings. MMP Holdings' earnings from its 70 per cent ownership of its subsidiary companies were about $17.5 million in 2014.

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Fairfax paid $35 million for its stake in 2011 when MMP's earnings were about $4 million.

That deal also included merging Fairfax Community Network's newspapers, which included 32 titles, with MMP.

A source close to the deal said that Fairfax was genuinely interested in buying out Mr Catalano and the group of real estate agents and was expected to submit a formal offer before Christmas.

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Fairfax to take full control of Anthony Catalano's Metro Media Publishing Holdings

[MaMOE14] Media Control Passport (ft. Inspecta Wack)
Music video from the project Music and Media for an Open Europe (#MaMOE14) on the two sides of European citizenship: Freedom for those who have it, a privi...

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[MaMOE14] Media Control Passport (ft. Inspecta Wack) - Video

The initial clash between Pat Rabbitte and Richard Bruton took place against the backdrop of the battle in the boardroom of INM, which saw Denis OBrien triumph over the OReilly family. Photograph: Dara Mac Dnaill

While the new guidelines on media mergers do not mention any person or individual companies by name, the shadow of Denis OBrien looms large.

The new media merger legislation and accompanying guidelines have been a long time coming and follow a tug-of-war between the Department of Communications and the Department of Jobs, Enterprise and Innovation, under whose remit mergers initially fell.

The initial clash between Pat Rabbitte and Richard Bruton took place against the backdrop of the battle in the boardroom of Independent News and Media (INM), which saw Denis OBrien triumph over the OReilly family.

At Government level, the Department of Communications took charge of the new dual-notification system for media mergers at the end of October. Alex White, who took over from Rabbitte in communications, will decide if a media merger is in the public interest, while the Competition and Consumer Protection Commission will determine if a deal can proceed on competition grounds.

At the height of the OReilly-OBrien tussle for control of INM, many in Government felt it would be wise to steer clear and allow things settle down at the biggest newspaper group in the country.

That has happened, and a restructured INM with OBrien as majority shareholder with a 29.9 per cent has emerged. OBriens Communicorp group houses Today FM, Newstalk and other radio ventures. Newstalk also operates syndicated news for local radio stations.

Recently, the National Union of Journalists called on White to call a halt to what it saw as OBriens threat to media diversity. That plea from NUJ secretary Seamus Dooley came after Newstalk secured a deal to provide news to more stations, making it the largest supplier of radio news in Ireland.

Critics will argue White is closing the stable door after the horse has bolted but the draft guidelines appear to outline criteria which could limit room for manoeuvre.

The most obvious is setting a threshold of ownership judged to constitute significant interest which means a person or business has sufficient voting, financial or ownership strength within the relevant media business or media businesses to influence directly or indirectly, to an appreciable extent, the direction or policy of the media business or media businesses with regard in particular to news, current affairs or cultural content.

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Shadow of Denis OBrien looms over new media merger guidelines

Rockville, MD (PRWEB) December 08, 2014

Media Cybernetics announces the release of Image-Pro Insight Version 9, a substantial upgrade of the last Insight version. This software features a simplified image capture interface with enhanced tools and functionalities that intuitively control a comprehensive and expanding list of supported commercial cameras. For example, the newly implemented High Dynamic Range (HDR) tool enables users to more faithfully capture the widest range of intensity present during image acquisition.

Originally designed to meet the needs of users with image processing and analysis of intermediate complexity, Image-Pro Insight 9 now empowers them to take on more advanced tasks. Users have access to a set of measurement tools with automated capabilities such as the inter-object distance measurement, which can be routinely used to measure features thickness in diverse applications. The automated one-click selection, segmentation and measurement of objects and features are now enabled with the Magic Wand tool and enhanced with several semi-automated editing functionalities.

Insight 9 is loaded with advanced features that our customers are going to love, said Nick Beavers, Media Cybernetics Global Sales and Marketing Manager. This major revamping of Image-Pro Insight focuses both on improved user productivity and enhanced capabilities, he adds. The newly added prompts, warnings, and visual cues minimize user error and accelerate workflow. These include non-calibrated images, image magnification and zoom levels and dynamic feedback during measurement drawing, among others. Designed to be easily deployed as a multiple-user platform both in industrial and academic settings, Insights intuitiveness shortens the learning curve. We are grateful for the invaluable feedback from our customers, our dealers and our community of beta testers, and cant wait to get this product in the hands of all of our customers, Beavers remarks.

As does every Media Cybernetics customer, Image-Pro Insight 9s users will enjoy Medias industry-leading customer support and free training resources. Visit the Insight product page to request a free, downloadable, 14-day trial version of Image-Pro Insight 9 today.

About Media Cybernetics Founded in 1981, Media Cybernetics is a leading software developer of image analysis products globally, with headquarters in Rockville, Maryland. Media Cybernetics is dedicated to developing image informatics solutions to automate research, development, and quality control processes in life science and industrial applications. The companys products simplify and enhance image-based data collection and analysis to increase the accuracy and productivity of its customers.

For more information about Media Cybernetics, visit http://www.mediacy.com.

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Media Cybernetics Releases the All New Image-Pro Insight 9 Image Analysis Software

The National Union of Journalists and others have raised concerns about the levels of media ownership of billionaire businessman Denis OBrien. Photograph: Dara Mac Dnaill

New Government guidelines on media mergers say it is undesirable for one person or business to hold excessive influence and introduce a public value test for future consolidation in the industry.

The draft guidelines, which will apply across print, broadcast and online, also set out thresholds that specify how many shares or holdings are needed to be able to influence the direction or policy ... with regard to news, current affairs or cultural content.

They say that a holding or voting strength of more than 20 per cent ... will generally constitute a significant interest, while a 10 per cent share could also constitute a significant interest.

A significant interest is defined as having sufficient voting, financial or ownership strength to influence direction or policy.

The draft guidelines will be published today by Minister for Communications Alex White. A public consultation process will be open until next month.

The final rules will not apply retrospectively, but one source said that recent media acquisitions might not have passed the new test.

The National Union of Journalists and others have raised concerns about the levels of media ownership of billionaire businessman Denis OBrien.

Mr OBrien is the biggest shareholder in Independent News and Media (INM), with a 29.9 per cent stake, but he has been deemed by the Broadcasting Authority of Ireland not to control INM.

Mr OBrien also owns Communicorp, the radio group that includes Today FM and Newstalk.

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Public value test to be introduced for media ownership