News. Nine Entertainment Company (NEC), of Australia, has now agreed the disposal of its regional newspaper division, Australian Community Media (ACM) which was formerly owned by Fairfax (acquired by NEC last year). Antony Catalano, backed by Thorney Investment Group, is to pay A$115m in cash for the 160-brand company in a deal which is expected to complete by the end of June. The price is less than 3 x EBITDA. Nine will apply the funds to pay down debt. Catalano is the former CEO of Domain, the property digital majority owned by NEC. This has led to speculation (see last week’s MediaDeals) that NEC might sell out of Domain. But, then, News Corp’s REA subsidiary is the Aussie property market leader and the Murdoch company is talking to NEC about all kinds of possible deals.
Nine sells regionals, Domain next?
