Jason Pellegrino to run a delisted Domain

BY Nathan Jolly

July 1, 2025 10:20

Jason Pellegrino

Former CEO Jason Pellegrino will return to Domain as company president after the listing platform’s $3 billion sale to US property giant Costar is finalised.

The pending sale will also see Domain delisted from the ASX and become a “wholly owned indirect subsidiary of CoStar”.

Domain issued documents to the ASX overnight, including a scheme booklet that outlines Costar’s intentions should be sale be finalised, and the proposed sale price of $4.43 per share.

The scheme booklet revealed that Costar intends to offer Pellegrino the position of president, in place of Domain’s current interim CEO Greg Ellis. Pellegrino was CEO of Domain from 2018 until he stood down from the role last October.

Costar has entered into a consultancy service agreement with Pellegrino to “provide advice on Costar’s business and market strategies for Homes.com.”

Jason Pellegrino

Costar has not made any other decisions “with respect to Domain’s existing management team”, however it will conduct a review upon finalisation of the deal. It expects the current management team to remain, “particularly as Costar has very limited operations in Australia.”

Costar will also review Domain’s business operations and organisational structure, to ensure “the appropriate mix and level of employees and skills to enhance the business going forward and to enable the business to pursue growth opportunities.”

The scheme paper also took aim at Domain rival REA Group, and the ACCC’s current investigation into its pricing practices.

“Costar believes in fair and sustainable pricing that reflects the value provided by its information and marketplace solutions,” the paper reads.

“To that end, Costar plans to invest in Domain’s content, technology and marketing, to deliver superior products, increased audience, better consumer experience, and competitive pricing, to position Domain as a stronger and preferrable alternative, giving agents real choice and genuine value to avoid constant price increases by REA Group.”

The Domain board reiterated its recommendation that shareholders vote in favour of the sale, as well as Nine’s intention to vote in favour of the sale. It also noted that independent auditors Grant Samuel & Associates concluded that the price offered by Costar is “close to the top end” of the share value.

Nine holds approximately 60.05% of shares in Domain.