Antony Catalano and Alex Waislitz, co-owners of media company ACM, have unveiled a new real estate digital media and agent services business in partnership with Kerry Stokes-controlled Seven West Media.
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Called View Media Group (VMG), the new enterprise incorporates a suite of property technology platforms offering consumer and business solutions in Australia's $300 billion real estate transaction market.
Seven West Media has confirmed an investment of cash and media services in VMG.
The venture includes the 72 per cent stake in property search portal realestateview.com.au controlled by Mr Catalano and Mr Waislitz, as well as their minority investments in market-leading A.I. and data business Propic and utilities comparison and connection business Beevo.
"We are bringing together a group of businesses and experts in the industry to form a true disruptor in the rapidly evolving proptech sector," Mr Catalano, ACM's executive chairman, said.
"We want the experience of buying property to be seamless at all steps along the buying journey. Be that browsing, searching, transacting, settling or moving in, our tools will help make this journey easier."
Mr Catalano and Mr Waislitz have invested substantial capital into VMG, which will have the media services support of ACM's network of 140 mastheads across Australia.
The ACM network, Australia's largest publisher of regional news, includes this newspaper.
Seven West Media has taken equity in the new VMG company via its subsidiary Seven West Ventures.
The combined investment will tip more than $100 million in cash and media spending into VMG.
The group is expected to announce further acquisitions in the coming weeks.
Seven West Media managing director and CEO James Warburton said his company was always "looking for businesses which we can help grow through the remarkable reach and power of our television, BVOD, digital and print assets".
"VMG is an exciting investment for us," Mr Warburton said. "The combination of Seven West Media, Antony's experience and the team he has assembled is a recipe for success."
Mr Catalano said the partnership with Seven would boost VMG's growth plans.
"Seven West Media is the undisputed leader in television and BVOD across every region of Australia," he said.
"Add the dominance of West Australian Newspapers in WA and you have a business that reaches 91 per cent of all Australians every month. Together, Seven West Media and VMG are a powerful partnership."
Previously registered as IMP, VMG is owned by 20 Cashews Pty Ltd, an entity which is jointly owned 50 per cent by Mr Catalano and 50 per cent by Mr Waislitz's private Thorney Investment Group and the publicly-listed Thorney Opportunities Ltd.
Mr Catalano said VMG would form "a global-first conglomerate of proptech assets including portals, ad tech, lead generation, lead management solutions, media planning and buying, AI services, data and connections all under the one roof".
The team assembled at VMG represented "decades of experience in the property industry".
"They are the best in their fields and are running very successful businesses in their own right," he said.
"Our plan is to bring these businesses together to form a property ecosystem where each business will drive value to each other and offer customers an end-to-end experience."
Of the further acquisitions to be announced, Mr Catalano said: "Watch this space. We have a series of exciting announcements we expect to be able to share with the industry over the coming weeks involving fast-growing tech start-ups."
