Antony Catalano closes in on Prime Media with $4m share purchase

Australian Community Media’s owner, Antony Catalano, is set to purchase a greater stake in regional TV company Prime Media Group, buying almost 19 million additional shares at $0.225 each, at a total cost of $4.245 million. The shares are currently held by Bruce and Judith Gordon via J.P. Morgan Nominees Australia Pty Ltd.

The deal was struck on 5 March and lodged with the stock exchange this morning, but is subject to approval from the Australian Communications and Media Authority – as required under the Broadcasting Services Act – due to its potential to adversely impact media diversity.

WA Chess Investments – Catalano’s company with business partner Alexander Waislitz – will make the purchase, with Catalano, Waislitz, and Catalano’s wife Stefanie Catalano among the entities which will each hold 73,229,427 shares should the agreement get the green light from the regulator.