Domain won't be floating says Catalano

Domain chief executive Antony Catalano has again dismissed talk of Fairfax Media spinning off its property business.

Fairfax has now gained full control of Metro Media Publishing Holdings (MMP), acquiring for $72 million the 50% that it did not own. 

Catalano said beefing up the real estate business did not mean Fairfax was preparing to float or sell Domain.

"It's not part of my strategy, which is to grow the business," he told Fairfax Media.

"Floating the business is not a consideration."

Catalano suggested, without detail, that Domain was trailing REA in only two states, Queensland and Victoria.

Fairfax Media chief executive Greg Hywood said the consolidation of the balance of the equity in MMP simplified the operations of its property services businesses, which have more than $300 million in real estate revenue.