Former Fairfax executive Antony Catalano has acquired Australian Community Media for $115m, taking control of 160 regional and rural mastheads including the Canberra Times, Illawarra Mercury, and Newcastle Herald. The deal, backed by billionaire Alex Waislitz, comes as advertising revenue in print continues to decline.
Catalano, known for turning Fairfax's Domain property pages into a profit centre, is now tasked with reviving a business that once cost $3bn. He admits some titles may not survive, saying: 'It would be a lie to suggest that some businesses may not need to close.'
The former journalist plans to grow digital subscriptions without a traditional paywall, instead collecting reader data for targeted advertising. He emphasised local news as key: 'The metropolitan media is never going to have access to the local news in those areas.'
Catalano also addressed past controversies, including allegations of a 'boys' club' at Domain, which he denies. He joked about not naming the company 'Cat B Fairfax', a reference to previous Rural Press owner John B Fairfax.
The 1,500 employees, including 650 editorial staff, await a clear strategy as Catalano grapples with the funding model for digital journalism. He remains optimistic about reaching a broader audience through combined print, digital, and news alerts.
