Life in the ol' girl yet as Australian regional titles sold for $115m to Antony Catalano, private equity
The sale of Australian Community Media, with 160-plus regional and rural titles, to real estate marketing guru Antony Catalano is likely to usher in more promising times for newspapers across the expansive continent.
Despite everyone writing off newspapers, including the very bosses who have run some of them, there’s life in the ol’ girl yet.
Catalano, backed by Aussie billionaire Alex Waislitz's Thorney Investments, picked up the massive regional stable for the bargain basement price of $115 million.
Among the titles bringing home the bacon are the Newcastle Herald, The Canberra Times and the often ignored agriculture bible, The Land. These titles with a handful of other daily titles rake in most of the revenue for ACM, formerly Fairfax Regional Media.
Thereafter is a very long tail of lesser titles, many weeklies and bi-weeklies, that seek to serve their disparate communities the best they can with minimal resources.
Not too long ago, some of those big titles alone could have reaped as much as the sum total for the entire regional empire now to be transacted.
The sale tells us quite a bit about the state of print in this country, but let me zone on three insights.
Authentic communication is a noble and righteous endeavour.
But being authentic has to be more than a company catch phrase. There needs to be a real connection between how an organisation speaks about its endeavours and what it does in practice.
How do you feel, for instance, when you see a stunningly shot commercial with a moving story, only to find the ad is flogging insurance? It jars.
Be it corporate social responsibility or social purpose, connecting brands with deeper meaning has become a busy marketplace.
As such, there is a widening gulf between those companies that are making a heartfelt connection with audiences and those that are essentially engaged in a cynical marketing exercise.
Stuart Howie is a Canberra-based communications consultant. He is the author of The DIY Newsroom, which won Social Media Book of the Year at the Australian Business Book Awards. Stuart has worked in media, publishing and communications for more than 30 years as an executive, editor and strategist.