Nine enters a cashed-up new era after selling Domain. What will Australia’s biggest media company do next?

Some analysts say it should diversify with an outdoor media acquisition. Others want it to invest in content for Stan and digitising its mastheads

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Nine Entertainment is entering a new chapter without its online real estate platform Domain, an asset once seen as crucial to the survival of a traditional media business battered by the digital age.

But it will have an anticipated $150m pile of cash from the sale of the portal to US property conglomerate CoStar after it pays shareholders a special dividend, raising expectations it will hunt for acquisitions.