Have a look at the composition of the REA Board both now and over the last 10 years. It's stacked full of current and ex-News execs from both their Aust operations and those around the globe.
At the end of the day the Murdoch's are pulling the strings on both and they are happy to let both run separately. That has been their strategy since the mid 2000's and why their business model has made Fairfax look like idiots.
To quote Lachlan Murdoch from the book 'Killing Fairfax' "We had established REA as the leading online classified in Australia by letting our people get out into the market to build and grow an awesome, almost iconic brand. We kept our other News Ltd businesses separate including our print assets to give the folk at REA clear air so they could smash Fairfax (Domain) who were still competing for oxygen with their own beleaguered print strategy and a futile attempt to save their masthead newspapers. The Fairfax board did exactly the opposite of what we did and it's probably killed their business"
The Murdoch's know a cash cow when they see one.
REA Price at posting:
$55.45 Sentiment: Buy Disclosure: Held
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