Media companies NZME and Fairfax have officially lodged an application to merge their operations.

The Commerce Commission has acknowledged the companies' request.

Fairfax and NZME are the two largest print news networks in New Zealand - Newstalk ZB is also owned by NZME, as is website GrabOne.

The ownership structure for the proposed merged business has not yet been established.

However it's been proposed that NZME will acquire Fairfax assets or shares, for a mix of new shares or cash.

Fairfax Media’s shareholding in the merged entity is expected to be less than 50 per cent.