The real estate abomination at the heart of the Australian economy is to finally tear free of our national media as the Fairfax half of the press duopoly today acknowledges what MB readers have know for years, that it is now just a glorified real estate agent:
And check out the restated financials in which Domain is all there is!
This reporting split has led to speculation that Fairfax may be preparing to either spin off Domain or to sell its burning newspapers. The first is surely possible in the form of a partial listing like realestate.com.au, the second absolutely no way. The Domainfax model only works so long as the media loss leaders drive traffic into the real estate maw.
One thing is apparent today: Domainfax is birthed and any “journalist” considering anything other than the soothing burble of lifestyle pieces had better line up a barista job first.
