The Fairfax Media Limited (ASX: FXJ) share price fell by 3.01% today to a 2018 low of $0.64.
The media company has been on a steady decline since the start of the new year, but the decline of its Domain Holdings Australia Limited (ASX: DHG) holding has fallen significantly.
The Domain share price has fallen from $3.69 to today's $2.90. Domain's CEO leaving caused uncertainty and the lack of an instant replacement could see it fall further behind REA Group Limited (ASX: REA) in terms of strategy and market position.
Most of Fairfax's other media assets face stagnant or declining earnings, which is why Domain's earnings and share price are so key to Fairfax's future.
Fairfax is currently trading at 12x FY18's estimated earnings with a trailing grossed-up dividend yield of 8.86%.
