Ann: Prime and Seven enter into Scheme Implementation Deed, page-12

there's also this from a month ago jake - from sydney morning herald

Regional media 'in crisis': Antony Catalano to push for ownership changesJennifer DukeBy Jennifer DukeSeptember 19, 2019 — 4.30pm

Australian Community Media executive chairman Antony Catalano will push the federal government to change media ownership rules, claiming regional broadcasters and publishers are in a "crisis" that requires major consolidation.The former Domain Group chief executive said that after he bought the regional newspaper business in April he had met with Deputy Prime Minister Michael McCormack, a former editor of Wagga Wagga's Daily Advertiser, who asked what the government could do to help country publishers.

Antony Catalano wants to invest and grow regional media.Antony Catalano wants to invest and grow regional media.CREDIT:JESSE MARLOW"I think we've got an ear," Mr Catalano said on a panel at annual media conference Mumbrella Publish on Thursday. "But we've got to come together as an industry and come up with a grab bag of initiatives."Among his proposals are getting rid of the television one-to-a-market rule that means a business cannot control multiple television licences in one area and the removal of television licence fees.AdvertisementHe said the government needed to understand that the owners of regional news stations were "not benevolent investors" and would make cuts when it was financially prudent, pointing to Bermuda-based billionaire Bruce Gordon-backed WIN TV's decision to close five newsrooms in June.RELATED ARTICLEWIN owner Bruce Gordon.

MEDIA & MARKETINGBruce Gordon and WIN told to lower Prime shareholdingAdd to shortlistMr McCormack described the decision at the time as disappointing though said he understood it was a commercial decision.Regional broadcaster Prime Media has also been under financial pressure, as country audiences decline in favour of streaming, advertisers increasingly choosing to spend on digital giants such as Google and Facebook, and as costs increase.Mr Catalano said he could see an "opportunity" in consolidation between regional radio, print and television businesses with some job losses, but overall allowing the survival of a regional publisher, but could also see the risk of "buying three lots of rubbish and all coming to zero".

"Unless I've got that scale the business won't be as robust as it could be," Mr Catalano said, adding he liked the regional broadcasters and radio stations but he believed they were "doomed in their current form".One solution, he said, was "bring groups together" and he argued there was no longer a need for WIN TV, Prime Media and Southern Cross Austereo to all operate the same services in a small regional area.Mr Catalano said when he bought the regional newspaper publishing business, which owns The Canberra Times and about 170 other titles, from Nine Entertainment Co for $125 million he was the "only bidder".

"It was a business in decline," he said, adding that ACM was a profitable business but not in every part and claimed it had been under-resourced by Fairfax Media. "The category is in crisis."Centre for Media Transition co-director Peter Fray, who was also speaking on the panel, disagreed that regional media was in a crisis but said the businesses were "crying for attention"."I'm not a big believer in government intervention but the reality of the situation is government can do things like the tax breaks," Mr Fray said, though added the "government picking winners" was problematic and believed there would be community concerns about any changes to their news titles.

"Having said that I do think there's a lot of political will to ensure that whether there's a crisis or not it doesn't blow out," he said.McPherson Media Group director of content and audience Christine Anderson said one of the greatest challenges facing her media organisation was a loyal but ageing readership."[We] need to find ways to attract the next group of readers to see the value in paying for news," she said.