Former CEO of Domain, Antony Catalano

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THORNEY OPPORTUNITIES LTD ACN 080 167 264 8 July 2019 Dear Fellow Shareholders I’m very pleased to announce that Thorney Opportunities Ltd (TOP) has participated in the recent $115 million acquisition of the Australian Community Media group from Nine Entertainment (NEC). TOP has taken a 25% interest in the equity component of the acquisition and has invested alongside its associated privately owned Thorney Investment Group which has also taken 25%. The remaining 50% has been acquired by interests associated with media entrepreneur and former CEO of Domain, Antony Catalano. TOP, Thorney Investment Group and Antony Catalano have formed a joint venture company to own and manage the ACM assets. ACM is a leading Australian media company which comprises more than 170 publications including The Canberra Times, The Newcastle Herald, The Ballarat Courier, The Border Mail, The Launceston Examiner, The Illawarra Mercury, The Land, Queensland Country Life and a host of other influential regional newspapers and publications and more than 130 associated community based websites. NEC acquired ACM as part of its takeover of the Fairfax Media group which was completed in December 2018. NEC elected to dispose of ACM and the Thorney/Catalano joint venture was the successful bidder. The acquisition became effective on June 30, 2019. While it is very early days, we are very excited about the opportunities presented by TOP’s participation in the acquisition of ACM. We believe that the combination of Thorney’s investment management expertise and Antony Catalano’s proven ability to create value from media assets will result in considerable upside for TOP investors over time. To read a recent Canberra Times news report on the acquisition which also ran throughout the ACM network, click here. I look forward to sharing more details about our ACM investment with you in future communications. Best regards For personal use only Alex Waislitz Chairman Level 39, 55 Collins Street, Melbourne Vic 3000 Telephone + 61 3 9921 7116 Facsimile + 61 3 9921 7100 .

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NEWSLETTER ISSN 1443-4962 No
AUSTRALIAN NEWSPAPER HISTORY GROUP NEWSLETTER ISSN 1443-4962 No. 37 May 2006 Compiled for the ANHG by Rod Kirkpatrick, 13 Sumac Street, Middle Park, Qld, 4074. Ph. 07-3279 2279. E-mail: [email protected] 37.1 COPY DEADLINE AND WEBSITE ADDRESS Deadline for next Newsletter: 15 July 2006. Subscription details appear at end of Newsletter. [Number 1 appeared October 1999.] The Newsletter is online through the “Publications” link of the University of Queensland’s School of Journalism & Communication Website at www.uq.edu.au/journ-comm/ and through the ePrint Archives at the University of Queensland at http://eprint.uq.edu.au/) CURRENT DEVELOPMENTS: METROPOLITAN 37.2 MEDIA REFORM PROPOSALS Communications Minister Helen Coonan issued on 14 March an outline of proposals to reform Australia’s media laws. She wanted feedback from stakeholders by 18 April. Under the proposals, newspaper groups and radio groups could be acquired by free-to-air TV networks and vice-versa – and so, Nine, for instance, could buy John Fairfax Holdings, and News Ltd could buy Channel 10. Free-to-air channels would face competition from emerging digital TV players. Senator Coonan said the cross-media and foreign ownership restrictions would be removed by 2007 or 2012, but the Government would require at least five “commercial media groups” to remain in metropolitan markets and four in regional markets. Extensive coverage of the Coonan proposals was provided in, for example, the Australian of 15 March (pp.1, 6, 7, 13, 31, 34) and 16 March (pp.2, 14, 17, 19, 22 and 25) and the Australian Financial Review of 15 March (pp.1, 11, 14, 28, 47, 48, 49, 57, 59 and 60).
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