CoStar Group and Nine Entertainment Negotiate AUD 2.79 Billion Acquisition of Domain, Second Largest Real Estate Firm

CoStar Group and Nine Entertainment have initiated negotiations for the acquisition of Domain, Australia's second-largest real estate classifieds firm, which is currently behind News Corp-owned REA Group. Nine Entertainment is targeting a purchase price of AUD 2.79 billion. Reports indicate that CoStar is also considering a potential improved offer for Domain, reflecting ongoing discussions about the deal. The Australian Financial Review noted that Nine has confirmed these talks, suggesting a strategic move in the competitive real estate market in Australia.