Antony Catalano's Australian Community Media talks with News Corp to buy a string of regional newspaper titles have ended with no result.
News Corp says discussions with "the most logical acquirer" of regional and community titles didn't produce a transaction.
"We are now considering alternative structures to best focus News Corp Australia on maximising digital and growth opportunities," says Michael Miller, executive chairman, News Corp Australasia.
Catalano, a former senior Fairfax executive, in 2019 bought regional newspapers, including the Canberra Times and the Newcastle Herald, from Nine Entertainment for $125 million.
Robert Thomson, global CEO of News Corp, last week told analysts: "A thorough reevaluation of our assets continues and a strategic review of our community and regional original newspapers in Australia is at an advanced stage."
Miller today revealed the end of talks when announncing a long list of appointments at News.
"The new appointments I am announcing today will position us to be more effective in driving further success in the growth areas News Corp is excelling in such as travel, food, digital advertising products and solutions, and digital subscriptions," he says.
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