The chief executive of Nine Entertainment has voted in favour of selling real estate sales platform Domain – the media giant’s biggest single asset – to US property giant CoStar, paving the way for the deal to proceed.
Domain’s board on Monday confirmed it had signed a deed allowing CoStar to begin a period of exclusive due diligence. A key term of the deed, requested by CoStar, was that the board members “unanimously recommended Domain shareholders vote … in favour” of the sale.
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Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
