Loading The deal did however pave the way for Catalano to buy Fairfax’s regional newspaper arm Australian Community Media for $125 million. He was backed by billionaire investor and friend Alex Waislitz. He has had control of ACM for more than three months. Many observers believe it is not performing strongly – a safe bet given most regional media companies are struggling to overcome audience shifts to digital platforms and a soft advertising market. But what does Catalano do next? Mergers There’s no escaping what Catalano said one month ago when he sat on stage and described his own industry as being in a crisis. Regional news organisations, he told a crowd of industry professionals at an annual publishing event in Sydney, need to push the government to abolish the one-to-a-market rule for television and remove TV licence fees. Loading The suggestion was particularly surprising because ACM does not have television interests. At least, not yet. His comments clearly indicate his interest in a bigger media merger that would see his regional newspapers coupled with a television broadcaster and, potentially, another media business as well. Achieving scale at a time when Facebook and Google dominate advertising budgets has become a… Read full this story
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