The full effect of sister column Street Talk’s scoop that US-based real estate giant CoStar was quietly buying shares in Domain before its $2.7 billion bid wasn’t fully apparent until market open Friday morning.
The share price of Domain – 60 per cent owned by Nine Entertainment, this masthead’s parent – skyrocketed 40 per cent. Lachlan Murdoch’s crown jewel and Domain’s dominant rival, REA, finished 10 per cent lower.
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Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
