ACM Sells Richmond Land Amid Financial Strain | Sydney News

ACM, the media company co-owned by Antony Catalano and Alex Waislitz, is selling its historic Richmond property for over $25 million as part of a broader financial restructuring — amid a reported $7 million net loss and negative cash flow. The duo bought ACM in 2019 for $115 million, but mounting debt and shrinking assets have forced asset sales to stay afloat. Current liabilities now exceed assets by $18.5 million, with net assets at just over $5 million. Catalano, facing serious assault charges and stepping back from his executive role due to mental health and substance abuse issues, has been replaced by his son Jordan at the helm — while his 25-year-old son Luca was recently appointed to the board, balancing power with Waislitz’s team. With Catalano’s legal troubles sparking interest from potential buyers, the future of ACM hangs in the balance — financially strained, personally turbulent, and still clinging to survival. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/cb7de039f19ea72f