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Fairfax Media Limited (ASX:FXJ) has snapped up the remaining 50 per cent interest in Metro Media Publishing Holdings that it does not already own.  

 

The media group will purchase the stake through cash and shares and the deal is worth about $72 million, including $18.5 million in cash. 

 

Metro Media Publishing Holdings holds the majority interests in 15 weekly premium real estate and lifestyle-focused magazines and newspapers in Victoria. 

 

Fairfax says the business also includes the fast-growing digital property business reviewproperty.com.au. 

 

Fairfax Media reported a net profit of $225 million in the 2014 financial year.