Filings to the Australian Securities and Investments Commission (ASIC) from 20 Cashews show that the Australian Community Media (ACM) company has posted a $30m drop in revenue and a net loss after tax of $7.9m for the 2025 financial year.
This is after a comparatively smaller loss in 2024 of $2.5m. 20 Cashews is the company controlled by media boss Anthony Catalano and billionaire Alex Waislitz.
The fall in revenue, from $244m to $214m, included a $13m year-on-year fall in advertising revenue, and a $3.5m drop in circulation income.
ACM director Peter Landos says the rise in losses are due to “the impact of ongoing investment in group companies.”
Landos is referring to the 20 Cashews investment in real estate platform View Media Group, which purchased The Property Agency in 2024 – 2025, and expanded its real estate AI platform, Propic. It also increased its shareholding in Southern Cross Media Group.
The half-owner of ACM Catalano was placed on a six-month leave of absence in March, after being charged with assault, false imprisonment, and making threats to kill.
ACM’s board and executives backed a vote of no confidence in Catalano, with staff stating he “undermines the trust of the communities we live and work in”.
Catalano co-owns several outlets, including The Canberra Times, Illawarra Mercury, Daily Advertiser in Wagga Wagga, The Newcastle Herald and The Border Mail in Albury/Wodonga.
Catalano’s case continues in court on May 11.
Top image: Anthony Catalano. Image: X