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CEO buys New Zealand Stuff Limited for one dollar

Christian Fernsby ▼ | May 25, 2020
New Zealand media giant Stuff Limited was sold in a management buy-out deal for the symbolic fee of NZ$1.00 (US$0.61), the group's Australian owners Nine Entertainment announced Monday.
New Zealand Stuff Limited
Media giant   New Zealand Stuff Limited
Nine said that Stuff chief executive Sinead Boucher would take over the company, which operates New Zealand's most popular news website, stuff.co.nz, and titles such as Wellington's Dominion Post and the Christchurch Press.

Topics: New Zealand Stuff

"The sale of Stuff is expected to (be) complete by May 31," Nine said in a statement to the Australian stock exchange.

Boucher, who joined the Press as a reporter in 1993 and has spent most of her career at the company, said it was "a new era" for Stuff.

"It is great to take control of our own future with the move to local ownership and the opportunity to build further on the trust of New Zealanders, who turn to us for local and national news and entertainment every day," she told stuff.co.nz.


 

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