Fairfax, Domain separation gets court tick

The Federal Court of Australia has approved the separation of real estate listing business Domain from Fairfax Media.

Fairfax Media's plan to spin off its profitable real estate listing business Domain from the news publisher has gained Federal Court approval.

Fairfax said the separation scheme will be effective from Tuesday, once it has lodged a copy of the court's orders with the Australian Securities and Investment Commission.

Domain is expected to start trading on the ASX on November 16, after shareholders "overwhelming" voted in favour of the separation at Fairfax's annual general meeting last week.