April 30 (Reuters) - Australian television network Nine Entertainment Co Holdings (NEC) on Tuesday said it would sell its Australian Community Media and Printing business to a company associated with ex-Domain Holdings (DHG) CEO Antony Catalano and Thorney Investment Group.
The sale would generate cash proceeds of A$115 million ($81.1 million), which would primarily be used to reduce debt, Nine said.
"The sale of ACM is aligned with our strategy to exit non-core businesses and to focus on Nine’s portfolio of high-growth, digital assets," Chief Executive Hugh Marks said in a statement.
Catalano and Thorney Investment were not immediately available for comment.
($1 = 1.4174 Australian dollars)
News: NEC Nine Entertainment to sell Australian Community Media and Printing business
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