Blog Details

CoStar Acquisition Of Domain Marks A Big Shift. The U.S. Real Estate Data Firm Offered $1.69 Billion For The Australian Property Classifieds Company. This Bid Values Domain At A$2.65 Billion. The Deal Would Be CoStar’s First Step Into The Australian Housing Market.

How This Impacts The Real Estate Market

The Housing Market In Australia Is Recovering. High Living Costs Slowed The Sector, But Interest Rates Are Now Falling. Domain Has Struggled Against REA Group, Owned By News Corp. A Strong New Owner Could Boost Marketing And Help Domain Grow.

Market Reaction And Nine Entertainment’s Role

CoStar Acquisition Comes With A 34.6% Premium On Domain’s Stock. After The News, Shares Rose 45% To A Three-year High. Nine Entertainment, Which Owns 60% Of Domain, Is Reviewing The Offer. The Deal Could Give Nine Entertainment A Much-needed Cash Injection.

Impact On REA Group And News Corp

REA Group Is The Largest Property Classifieds Site In Australia. After The News, Its Stock Dropped 11%. News Corp, Which Owns A Majority Stake In REA, Also Saw A 7% Decline In Its Shares.

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