Sept 22 (Reuters) - Fairfax Media (FXJ) on Friday said it received approval by an Australian court to hold a shareholder meeting to vote on the separation and listing of its classified ads business for properties, Domain Holdings Australia Ltd.
If the separation is approved in the Nov. 2 meeting, shareholders would receive one Domain share for every 10 Fairfax shares held, the company said in a statement.
Fairfax has been under pressure along with other traditional media companies, struggling to adapt as consumers have turned to free online classified advertising.
