Where Australian Community Media (ACM) boss Antony Catalano goes, 'Rationalisation' & 'Streamlining' are sure to follow.

The deal, which PortMac.News understands has been underway for some time, could be signed off as soon as this week.

It would grow ACM’s focus on regional titles and leave News Corp with a business of metro newspapers.

The Australian Financial Review is reporting the specific titles included in the deal are currently under discussion and could be a sticking point for the deal.

News Corp Australia’s regional titles focus largely on the Queensland market, while ACM’s stronghold is in New South Wales and Victoria.

ACM’s titles include The Canberra Times, The Newcastle Herald, The Examiner and the Illawarra Mercury, while News Corp Australia’s titles range from the Geelong Advertiser, Gold Coast Bulletin, The Weekly Times and the NT News to the Wentworth Courier, Mosman Daily, North Shore Times and Manly Daily.

Discussions are currently around which of these titles would be involved in the deal. Some, including the NT News, are core parts of News Corp’s editorial strategy, while others, including the Wentworth Courier, have a strong relationship with News Corp’s REA Group. Catalano is the former CEO of Domain, REA Group’s rival.

PortMac.News is not sure what effect such a move might have on the reopening of Port Macquaries two 'Suspended' local ACM papers, 'Port News' & 'Express'.

Publication of both Port Macquarie titles was suspended last month and both are touted to remain out of print until at least the end of June.

In 2019, Catalano & his business partner billionaire moneyman Alex Waislitz acquired ACM from Nine, formerly Fairfax, for $125m.

Catalano later denied he was looking to recreate the success of Domain, stating his focus was on regional news, not replicating his real estate past.

News Corp’s regional titles were previously up for grabs, but the media giant removed them from the market following the merger of Nine and Fairfax.

Catalano has other regional investments, including a stake in Prime which he snapped up in a bid to stop Seven’s planned acquisition of the business.