May 8 (Reuters) - Fairfax Media Ltd FXJ.AX :
* 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" Source text for Eikon: ID:nASX26784T Further company coverage: FXJ.AX