Due diligence

Real estate portal Domain the ultimate fixer-upper for Nine’s board

It’s Australia in 2024, and property is (still) king. Getting the one-time growth engine firing again would make for some very happy shareholders.

Jemima WhyteSenior reporter

Aug 18, 2024 – 8.00pm

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It’s tough being second. Nobody knows that better than Domain, the real estate listings platform that is 60 per cent owned by Nine Entertainment. Domain’s market performance has lagged its rival, News Corp-backed REA Group, for years – something Nine’s board has long grappled with.

Could now finally be the time for decisive action to get Domain firing again?

correction —

A previous version of this article stated that Matt Stanton was the second Nine appointment to the Domain board. This is incorrect. He is the third appointment, joining Nine chief executive Mike Sneesby and Nine chief product and technology officer Rebecca Haagsma on the Domain board.

Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years.