ACM has today confirmed it has reached an in-principle agreement with realestateview.com.au to form a new joint venture entity, for which ACM will have the majority shareholding.
The joint venture involving the two companies will collectively invest more than $100M into the JV over five years to build a market-leading, multi-faceted property media, agent services and data business. realestateview.com.au will be the lead consumer-facing brand of the JV.
As a result, ACM will today roll out the realestateview.com.au brand to approximately 130 print and digital assets that feature property sections, replacing the Domain brand.
ACM’s Executive Chairman Antony Catalano said that “the move is a key strategic piece of our real estate digital media plan. With majority ownership in the JV we can now look to fast-track the realestateview.com.au business by enabling it through all parts of the ACM business including editorial, marketing and of course a combined national sales force that will sell our integrated property marketing solution.”