Media entrepreneur Antony Catalano wants Southern Cross Austereo to buy his and partner Alex Waislitz’s regional media business.
Antony Catalano, the chairman of Australian Community Media, has enlisted Barrenjoey and law firm Arnold Bloch Leibler and has put forward his entire regional media empire in exchange for a chunk of Southern Cross Austereo.ACM, which is owned by Mr Catalano and Rich Lister Alex Waislitz, asked whether Southern Cross would acquire ACM’s 14 daily print and digital news publications, regional and metropolitan titles, and agriculture division.
In an ASX announcement, the Southern Cross board said it would investigate the proposal and told shareholders to take no action. Mr Catalano declined to comment.between Southern Cross and its rival ASX-listed audio company, ARN Media, which owns the KIIS and Pure Gold radio brands.In October last year, ARN launched a takeover alongside Anchorage Capital Partners to buy Southern Cross and redistribute its assets between them.
“Should the proposed transaction proceed, it will create a dynamic multimedia company across audio, digital, print and TV. The merged entity would be the number one audio network in Australia and the country’s largest regional media company,” he wrote.
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