Former Domain chief executive Antony Catalano and billionaire Alex Waislitz’s Thorney Investment Group have bought 170 regional and country newspapers from Nine Entertainment Co for $115 million in cash.
Nine announced the deal for its Australian Community Media publishing business and printing to the Australian Stock Exchange on Tuesday morning, with the sale to be completed by June 30. Nine is the owner of this masthead.
The sale was for $115 million in cash, with $10 million of this sum to be paid in 12 months time. An additional $10 million in advertising for Nine across the news titles is included in the deal, over three years.
Some of the titles included in the deal are The Canberra Times, The Newcastle Herald, The Examiner, The Border Mail, The Courier and the Illawarra Mercury, and agricultural titles The Land, Queensland Country Life and Stock & Land.