Hugh Marks, the new Fairfax boss buys Berry weekender
The Channel Nine chief executive Hugh Marks has spent $4.075 million for a retreat in the Berry hinterland.
It comes as he is announced to lead the Nine-Fairfax merged media company which sees Nine own 51.1% and the weakened Fairfax at 48.9%.
The family's Shoalhaven weekender is a contemporary, architect-designed residence at Broughton Vale.
Yeramba is set on 40 hectares with about half cleared for livestock.
Much of the rest is natural bushland with a permanent creek, waterfall and rock pools.
It was sold by former NEC and Hewlett-Packard boss Alan Hyde and his wife Joanne.
The marketing of the TDDP Architects-designed home indicated it was "developed on ecological and sustainable principles."
Nick Dale of Belle Property Berry secured the $4.075 million sale.
The Berry district residential price record was set at $4.75 million last December when Bond University chancellor Annabelle Bennett and her husband David Bennett, QC, bought a 20-hectare retreat from a Macquarie Group executive.
Marks, who was appointed to Nine’s top job in late-2015, has been appointed as the next chief of the Nine Fairfax merged media entity under the chairmanship of Peter Costello.
Mark advised the merged "marks a truly momentous development for Nine’s future."
The existing Nine television and digital businesses, to be known as NEC will become the proprietor of the historic Fairfax mastheads as well as the new majority owner of Domain (60%) and the Macquarie Radio Network (54.5%).
The transaction Nine will also move to 100% ownership of Stan.
His property purchase, without the precise price, was revealed last weekend by Fairfax Media.
He has been based in Artarmon where he bought his Californian bungalow for $765,000 in 1998.
Last year he spent $2,015,000 on a three-bedroom investment Neutral Bay pad.
