The businessmen have held discussions about merging the radio and television group with their own Australian Community Media if a bid from ARN can be stopped.
Antony Catalano and his billionaire backer, Alex Waislitz, are attempting to stop ARN Media’s purchase of Southern Cross Austereo, hoping instead to merge the television and radio group with their own publishing operations.
This is not the first time Mr Catalano and Mr Waislitz have attempted to thwart a regional media deal. In 2018, they acquired a 14.6 per cent stake in Prime Media in an attempt to block a $60 million merger between the regional broadcaster and Seven West Media. The attempt succeeded and Seven did not buy Prime until late 2021.The Australian Financial Review
ACM now owns 16 regional daily newspapers, 55 non-dailies, a network of agricultural news publications, and other niche brands. The company has sold most of the 25 printing plants and buildings in Queensland, Victoria, Tasmania and Western Australia acquired as part of the deal. Mr Bolton claims that this is because Allan Gray had a controlling interest in ARN – as it held more than 20 per cent of its shares – when the company bid for Southern Cross, where Allan Gray is also a major investor.dividing up ARN and Southern Cross’s assets into two new entitiesAnchorage would keep Hit and Gold FM, 35 regional radio stations, and Southern Cross’s network of regional TV assets.
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