Australian Community Media's managing director Tony Kendall told an all-staff meeting on Monday that Antony Catalano had stepped down and that ACM was not for sale, referencing speculation from some media outlets.
The statement came as the regional publishing giant grapples with a significant leadership crisis. Catalano, 59, has been placed on an immediate leave of absence as ACM executive chairman after being charged with a number of alleged offences following an incident at a Melbourne apartment. The ABC reported that Catalano faces charges of assault, false imprisonment and making threats to kill.
A woman sustained a fractured coccyx during the alleged attack, and Catalano is co-owner and chairman of Australian Community Media, which publishes over 160 regional and rural titles. The magnitude of the allegations has triggered immediate corporate action and raised questions about the company's stability and whether ownership might change hands.
Kendall's reassurance to staff addresses growing market speculation about a potential sale. For years, industry observers have noted that ACM could become an attractive asset for larger media operators or investment groups, particularly given the challenges facing regional publishers. The company controls flagship mastheads including the Canberra Times, Newcastle Herald, and the Border Mail across Albury-Wodonga, among many others.
With his Thorney Investment Group, co-owner Alex Waislitz partnered with Catalano to buy the former Fairfax Media regional publishing division from Nine Entertainment following Nine's 2018 merger with Fairfax. That $115 million investment in 2019 positioned Catalano as one of Australia's most significant media figures. The company employs around 800 people, including nearly 400 journalists.
Under Catalano's leadership, ACM has sold off multiple titles and moved to reduce print production. Even before this week's events, the business faced mounting pressures from digital disruption and declining advertising revenue. There has been mounting speculation about a sale of ACM's publishing assets, speculation that intensified after Catalano's arrest.
Kendall issued a statement to all ACM employees following Catalano's court appearance, outlining that Catalano was on an extended leave of absence due to the "charges involving alleged violence towards a woman," while noting that "violence against women is entirely against the values of our company and our mastheads."
The crisis now presents a critical test for ACM's governance structures. In his Monday statement, Waislitz said ACM and View Media Group were "well led by their respective executive teams who had considerable experience in traditional media and real estate digital media," and that both companies would "continue to protect their long-term interests, their employees, partners and other stakeholders whilst maintaining their integrity and governance practices," adding that "Australian Community Media remains a strong organisation with a talented team and a clear strategic direction."
Catalano's case has been adjourned until May 11. In the interim, Kendall and the broader leadership team will need to stabilise the business, manage investor and staff concerns, and demonstrate that ACM can function effectively without its controversial co-founder at the helm. The company's market value and future prospects may depend on how well that transition is managed in the coming weeks.