News: DHG Nine Entertainment to sell Australian Community Media and Printing business

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)