Fairfax is heading down the de-merger route by hiving off its Domain online property business. A statement to the ASX Tuesday morning asked for Fairfax shares to be placed in a trading halt “pending an announcement in relation to the Domain Group”. The trading halt came ahead of tomorrow’s financial results for the six months to December 31. The Domain spin-off is expected to be revealed then. Fairfax took write-downs of $900 million or more in May 2016 to de-merge Domain from the rest of the company and turn it into a standalone business. The Financial Review reports that Domain will be a separately listed company, with Fairfax owning between 60% and 70%, much the way that REA Group is 61%-owned by News Corp and accounts for the majority of the Murdoch clan company’s market value.

Peter Fray

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