May 8 (Reuters) - Fairfax Media Ltd (FXJ) :
- On friday, 5 May 2017 received interest from a consortium including TPG Group (TPG) and Ontario Teachers' Pension plan board
- Indication of interest to acquire Fairfax for a combination of cash and Scrip consideration in a newly listed vehicle
- Consideration under TPG Consortium's indicative proposal comprises $0.95 in cash
- Consideration under proposal also comprises 1 share in a newly listed co which consortium values at $0.25 - $0.30 per share
- New Media Co would be created by demerging and listing Australian Community Media, New Zealand Media, Macquarie Media and Stan
- "New Media Co would be separately listed on ASX"
- TPG Consortium propose to fund cash consideration through a combination of equity (to be provided by TPG Consortium) and debt
- "Proposed split of businesses may not optimise shareholder value"
