ANZ appears to have taken its first punt as a non-bank, injecting $50 million into View Media Group (VMG), a venture founded by two prominent Melbourne businessmen.
VMG was established by Antony Catalano and Alex Waislitz of publishing business Australian Community Media (ACM).
ANZ has been coy about responding to media inquiries about its NOHC (non operating holding company) restructure which has freed up the group to take bets in other business areas without disturbing its prudential obligations.
MWM investigated ANZ’s structural change, and it appears thus far that it is the only one of the big four banks to have considered the restructuring arrangement although Treasury and banking regulators have been reticent to respond to questions about the move.
In August 2022, Seven West Media took equity in VGM via its Seven West Ventures subsidiary. VMG is jointly owned by 20 Cashews, an entity which is jointly owned 50 per cent by Antony Catalano and 50 per cent by Alex Waislitz’s private Thorney Investment Group and the publicly-listed Thorney Opportunities.
Treasurer, regulators, banking lobbyists duck for cover on ANZ’s big restructure
Callum Foote was a reporter for Michael West Media for four years.