It’s no secret Melbourne billionaire Alex Waislitz and his media executive offsider, Antony Catalano, are deep in the red having bet on Southern Cross Media.
The pair, who control regional publisher Australian Community Media, went substantial at Southern Cross in March. Since then, the shares are down 38 per cent, although this hasn’t stopped their investment vehicle, 19 Cashews, upping its stake since. At last count, they own 14.4 per cent. The stock has continued to decline, last trading at 61¢ a share.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
