CoStar Tables $2.7B Bid For Domain

Published on: 21st February 2025 at 1:11 PM

Arvind Hickman

1 Min Read

The US real estate platform is offering an all cash takeover bid of Nine’s property classifieds platform, Domain.

CoStar, which owns 16.9 per cent of Domain’s shareholding, has proposed to acquire the whole business at a cost of $2.7 billion.

Nine, which owns a 60 per cent stake, has previously stated that there are no immediate plans to offload the business.

Acting CEO Matt Stanton has begun a review of Nine’s operations and last month restructured the business into three divisions: Streaming & Broadcast; Publishing; and Marketplaces.

Domain sits in the marketplace arm which is led by chief digital officer Alex Parsons.

The Domain board is reviewing CoStar’s proposal and will appoint advisers to assist in the negotiations.

TAGGED: Domain

By Arvind Hickman

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Arvind writes about anything to do with media, advertising and stuff. He is the former media editor of Campaign in London and has worked across several trade titles closer to home. Earlier in his career, Arvind covered business, crime, politics and sport. When he isn’t grilling media types, Arvind is a keen photographer, cook, traveller, podcast tragic and sports fanatic (in particular Liverpool FC). During his heyday as an athlete, Arvind captained the Epping Heights PS Tunnel Ball team and was widely feared on the star jumping circuit.