Catalano’s Australian Community Media posts $7.9m loss
ACM publishes 65 mastheads across Australia
Australian Community Media has posted a $30m drop in revenue and a net loss after tax of $7.9m for the 2025 financial year.
This is according to filings to the Australian Securities and Investments Commission (ASIC) from 20 Cashews, the company controlled by troubled media boss Anthony Catalano and billionaire Alex Waislitz that owns ACM.
The $7.9m net loss after tax has increased from FY24’s $2.5m loss, but according to director Peter Landos, the rise in losses are due to “the impact of ongoing investment in group companies.”
20 Cashews also operates burgeoning real estate platform View Media Group, which purchased communications agency The Property Agency during the financial year, and expanded its real estate AI platform Propic. It also increased its shareholding in Southern Cross Media Group.
The fall in revenue, from $244m to $214m, included a $13m year-on-year fall in advertising revenue, and a $3.5m drop in circulation income, representing a 10% dip from FY24.
This circulation shortfall was neatly matched by a $3.5m profit from selling ACM’s Launceston print facilities.
ACM publishes 65 regional mastheads, including the Newcastle Herald, Canberra Times, and Illawarra Mercury. Catalano, who owns 50% of the company, was placed on a six-month leave of absence in March after being charged with assault, false imprisonment, and making threats to kill.
ACM’s board and executives backed a vote of no confidence in Catalano from its journalists, who said his actions “undermine the trust of the communities we live and work in”.
Catalano will next face court on May 11.
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