Fairfax Media is reorganising its business to create a separate reporting segment for the profitable Domain Group, and has also written down the value of its Australian and New Zealand media divisions by nearly $1 billion.

Creating a separate business for Domain will demonstrate how much revenue the online real estate business makes. Separating the financials could also be seen as a precursor to Fairfax selling Domain, or the newspapers, however chief executive Greg Hywood said on Monday the company has "no plans" to sell off Domain.

Fairfax Media chief executive Greg Hywood. Credit:Michel O'Sullivan.

The reorganisation gives analysts enough time to change their spreadsheets and models ahead of Fairfax's full year results on August 10.

Until now Domain's results were included in the Australian Metro Media segment, which includes Fairfax Events and Digital Ventures, and newspapers such as The Age, The Sydney Morning Herald, and the Australian Financial Review.