Completion of Allhomes Acquisition

MEDIA RELEASE

COMPLETION OF ALLHOMES ACQUISITION 

 

SYDNEY, 2 October, 2014: Fairfax Media Limited [ASX:FXJ] today announced completion of the Domain Group’s acquisition of All Homes Pty Ltd (Allhomes), the leading property portal in the Australian Capital Territory (ACT) and surrounding areas in regional New South Wales. 

Fairfax Media announced on 10 July 2014 that it had entered into an agreement to acquire Allhomes, subject to regulatory review. On 4 September 2014 the Australian Competition and Consumer Commission announced, following an informal review, that it did not oppose the acquisition of Allhomes by the Domain Group. 

Domain and Allhomes will combine their operations in Canberra, creating one business providing market-leading digital and print advertising solutions. Mr Tim White, previously CEO of Allhomes, will manage the Allhomes and Domain operations in the ACT. Both the Allhomes and Domain brands will remain in the ACT market, providing real estate agents and consumers with the benefits of a market-leading local brand and a fast-growing national brand. 

CEO of the Domain Group, Antony Catalano said: “Allhomes is a strategically important acquisition for the Domain Group given our existing presence in Canberra. Tim has done a fantastic job in overseeing Allhomes to become the market leader in the ACT. We are very pleased that he will remain in the business and oversee the combined operations in Canberra.” 

Mr Catalano added: “There is significant scope to offer more value to real estate agents in the ACT and surrounding areas, as well as providing greater access for Allhomes to national advertisers who want to reach the market-leading audience it has attracted. We are very excited about the opportunities to accelerate growth in the Allhomes business, working in partnership with real estate agents and providing best-in-class product and services for consumers.” 

– ENDS – 

For the full article click the downloadable link (PDF 69.6KB)

Contacts:
Brad Hatch
Director of Communications
+61 2 9282 2168