Kerry Stokes’ Seven West Media is joining Antony Catalano and Alex Waislitz to launch a new real estate digital media and agent services business.
View Media Group will bring together a suite of proptech platforms offering consumer and business solutions in Australia’s $300 billion real estate transactional market.
Seven West Media – which includes West Australian Newspapers – will bring cash and media services to the deal.
“VMG will 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,” says Catalano (pictured).
“We are bringing together a group of businesses and experts in the industry to form a true disruptor in the rapidly evolving proptech sector.”
The new company will initially hold 72 per cent of search portal realestateview.com.au, together with minority investments in AI and data business Propic and the utilities comparison and connection business Beevo. It aims to make the experience of buying property to be seamless at all steps along the buying journey.
Catalano – who owns publisher Australian Community Media with Waislitz – says further investments and acquisitions are planned. “Watch this space, we have a series of exciting announcements we expect to be able to share involving fast-growing tech start-ups.”
View Media Group was previously registered as IMP, and is owned by 20 Cashews Pty Ltd, an entity jointly owned, 50-50 by Catalano and Waislitz’s private Thorney Investment Group and the publicly-listed Thorney Opportunities.
In a statement today, the two say they have invested substantial capital into VMG and have committed “significant media services” through their ACM network of 140 mastheads across regional Australia. Seven West Media will take equity in the company via its Seven West Ventures subsidiary. “The combined investment from all parties will see the total cash and media spend available to VMG total well over $100 million.”
SWM managing director and chief executive officer James Warburton, said Seven was “constantly 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. The combination of Seven West Media, Antony (Catalano)’s experience and the team he has assembled is a recipe for success.”
Catalano says the investment and partnership with Seven West Media is “a clear endorsement of the VMG opportunity” which will help fast track growth and acquisition plans. “Seven West Media is the undisputed leader in television and BVOD across every region of Australia. 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.”