The ZMC replaces the disbanded Media and Information Commission (MIC) which presided over the closure of several newspapers in the last 9 years.
The agreement signed between Zimbabwes three political parties gave provision to the formation of a media commission.
Government sources said Muradzikwa will be deputized by former banned Daily News editor Nqobile Nyathi.
Other members of the ZMC are lawyer and former Daily News reporter, Chris Mhike, freelance journalist Miriam Madziwa, Zimbabwe Union of Journalists outgoing president Matthew Takaona.
Zimbabwes former ambassador to China, Chris Mutsvangwa, banker Dr Millicent Mombeshora, Reverend Useni Sibanda and Godfrey Majonga.
A source close to the Monday meeting said, The two leaders agreed on the names at a meeting on Monday afternoon. The formal appointment is expected Tuesday or Wednesday.
Meanwhile it is understood that the two leaders rejected nominations to the Broadcasting Authority of Zimbabwe (BAZ) announced by information minister Webster Shamu last week.
Shamu had appointed former MIC chairperson Tafataona Mahoso as chairperson of the new BAZ board as well as boards for Zimpapers and Kingstons.
Several people with interest to the media in Zimbabwe had expressed their displeasure in the unilateral appointment of Mahoso who was responsible for the closure of several newspapers over the years.
The leaders also rejected Shamus nominations saying he had no authority to act unilaterally in that manner. They said they will make announcements in due course, a source who could not be named said.
Media reforms are seen as critical in Zimbabwes quest to democratize public institutions.
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HarareZimbabwe President and Prime Minister have agreed on the final list of the Media Commission, The Zimbabwean has learnt.