Regional newspapers sever Nine Entertainment ties
Arnold Bloch Leibler has advised a consortium on its acquisition of Nine Entertainment’s Australian Community Media and printing business.
Firm: Arnold Bloch Leibler (consortium controlled by Antony Catalano and Thorney Investment Group)
Deal: Arnold Bloch Leibler has advised a consortium controlled by Antony Catalano and Thorney Investment Group on its acquisition of Australian Community Media and a Nine Entertainment printing business.
Area: Media, M&A
Key players: Corporate and M&A partner Jeremy Leibler led Arnold Bloch Leibler’s team, with senior associates Rebecca Zwier, Scott Phillips, Gia Cari and Melanie Smith.
Deal significance: The deal, which is due to complete on 30 June 2019, will see Arnold Bloch Leibler’s client assuming control over 170 regional newspapers, including the Canberra Times and Newcastle Herald, as well as a significant property portfolio, the firm said.
Commenting on the deal, partner Jeremy Leibler commented that “this deal has attracted a lot of attention, in part because Australians value having greater diversity of ownership in the media.”
“Across regional Australia, in particular, it’s hugely important to communities to have access to media that reflects their interests and concerns,” he continued.
“Our clients not only understand that but have signalled their intention to seriously invest in it.”