Strongly disagree. I don't know why you think Domain is not a "premium site". It has grown from strength to strength and is a real threat to realestate.com - and has done this under current management. Anthony Catalano was hot property during the recent FXJ. The spin off will lead to a separation of FXJ's direct management of DMH and Catalano will continue to lead DMH.
FXJ retaining a controlling stake means that it more likely to keep some dividend stability. You could call it 'greedy' or you could call it acting in the best interests of its shareholders - not all of whom wish to ditch their FXJ shares after the split.
FXJ Price at posting:
$1.10 Sentiment: Hold Disclosure: Held