Murdoch won control of an Australia media firm.

Publisher Rupert Murdoch gained control of Herald & Weekly Times Ltd., Australia’s biggest media company a day after rival suitor John Fairfax Ltd. dropped its bid. In announcing terms of the deal, the Herald & Weekly board said it had sold its television stations in Melbourne and Adelaide and its broadcasting holdings, plus some smaller newspapers, to Fairfax and businessman Kerry Stokes for about $320 million. Murdoch’s latest offer values the company at an estimated $1.53 billion.