Anthony Catalano's Australian Community Media (ACM) has offered a deal to broadcaster SCA to acquire a group of regional news titles.
The deal, different to one rejected last year, relates to ACM's portfolio of 14 of daily print and digital news publications, key regional/metro titles and ACM's agriculture division.
SCA told the ASX it would investigate ACM’s revised proposal to determine whether it would align with strategy and have the potential to create value for and be in the best interests of shareholders.
Commercial details of the proposal haven't been released.
Previously ACM proposed to to combine its regional newspaper titles with the broadcaster's assets.
This deal proposed an acquisition.
Catalano, with ACM co-owner Alex Waislitz, have been investing in online classifieds. They launched the real estate digital media and agent services business View Media Group in 2022.
The residential fremium property portal view.com.au has more than doubled its unique audience since October, according to February IPSOS data.
SCA had been considering a proposal from competitor ARN and private equity group Anchorage Capital but the deal fell through.
ARN was still keen despite Anchorage withdrawing.
The original bid fell apart when private equity firm Anchorage, which was part of ARN's consortium, walked away from the deal, citing "continued decline" in the trading performance of regional TV.
ARN and Anchorage first made an offer in October last year, valuing SCA at $330 million, made up in part cash and part shares.
SCA said it was "frustrating" the consortium had withdrawn its proposal now when any material concerns should have been identified much earlier.
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