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Catalano Portfolio Competes with Domain

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Antony Catalano is mounting his media campaign against Domain by adding another platform to his portfolio.

The regional media proprietor was announced as a board member on Australia's third largest real estate portal realestateview.com.au on Monday.

The former Domain chief executive and his business partner Alex Waislitz hold the largest interest in the portal with a 26 per cent stake.

The acquisition adds to the pair's growing media portfolio, after Catalano and Waislitz's $115 million acquisition of Australian Community Media in June 2019.

The portfolio is in direct competition to Catalano's former employers, the former Domain chief executive spent 26 years with Fairfax prior to leaving for “family reasons” in 2017.

In 2018, Catalano made an eleventh-hour attempt to disrupt the merger of Fairfax Media and Nine Entertainment which was rejected by shareholders.

In late 2019, Catalano was in a standoff with television broadcaster Prime with a 14.6 per cent share against Kerry Stokes Seven West Media (14.9 pc), and WIN Corp owner Bruce Gordon (11.6 pc).

Gordon and Catalano voted against Seven's merger with Prime with the deal collapsing prior to Christmas.

Catalano also owns a stake in property media agencies Media Plus and Tomorrow Agency—one of Domain's largest clients.

Catalano said he was confident on his new appointment to the realestateview.com.au board and the business’ potential.

Related: Catalano Smashes Price Record with $30m Penthouse Buy

Realestateview.com.au’s chief executive Toby Balazs supported the decision and becoming part of a cross-platform media network.

“The opportunity to work with ACM and extend our brand through their network is a clear vote of confidence for the work we’ve been doing,” he said.

“Antony has an impressive track record of rapidly growing media businesses, particularly in the real estate category.”

ACM and other media publishers who combined account for 36 per cent interest in realestateview.com.au have over 270 suburban and regional newspapers in circulation.

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Article originally posted at: https://theurbandeveloper.com/articles/catalano-portfolio-competes-with-domain