Nine Offloads Stuff In NZ For $1 Following Management Buyout

Nine Offloads Stuff In NZ For $1 Following Management Buyout

Nine has today confirmed that it has signed an agreement for the sale of Stuff Limited, in a transaction which is expected to complete by May 31, 2020.

The transaction will be a management buyout with Stuff chief executive Sinead Boucher (main photo), taking over the business as it returns to New Zealand ownership.

Direct proceeds from the sale will be $NZ1 ($A0.93). Nine will retain ownership of Stuff’s printing plant site and lease it back to Stuff.

“We have always said that we believe it is important for Stuff to have local ownership and it is our firm view that this is the best outcome for competition and consumers in New Zealand,” said Hugh Marks, CEO of Nine.

Sinead Boucher said the transaction gives Stuff, as a wholly New Zealand owned media business, far greater certainty in an industry navigating through the challenging waters of the post COVID-19 ad market.

“Today is an important moment for Stuff as a business,” said Boucher. “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. We are looking forward to working closely with staff, customers and our audiences as we embark upon what we believe will be a great new era for the business and the independent journalism it is built on.”

Nine acquired ownership of Stuff in 2018 following its merger with Fairfax Media. Part of the proceeds from the recent sale of internet service provider Stuff Fibre will be used to assist Stuff to operate as it settles into its new ownership structure.

Stuff Limited is a leading publisher operating in New Zealand. It operates the country’s largest news website, Stuff.co.nz, and also owns nine daily newspapers including The Dominion Postand The Press, the recently awarded weekly newspaper of the year, Sunday Star-Times, and the New Zealand social media network Neighbourly.

 




Please login with linkedin to comment

Hugh Marks Nine Stuff

Latest News

Flexiroam Partners With Specialist Agencies To Launch “Ready For Anything” Global Campaign
  • Advertising
  • Campaigns

Flexiroam Partners With Specialist Agencies To Launch “Ready For Anything” Global Campaign

FlexiRoam launched an international campaign promoting effortless connectivity while you travel called “Ready for Anything”. FlexiRoam provides low-cost international roaming, making it more affordable than ever and has partnered with three Australian specialist agencies to bring this to life. Bench Media has been commissioned to run media campaigns globally including search, social, display and video. […]

Samsung Unveils Power Of AI To ‘Upscale Every Moment’ With Neo QLED 8K
  • Advertising

Samsung Unveils Power Of AI To ‘Upscale Every Moment’ With Neo QLED 8K

Samsung’s Latest ad follows up from last year’s ‘More Wow Than Ever’ campaign. To mark the launch of the new AI TV era with the 2024 Neo QLED 8K, Samsung worked with BBH Singapore to bring its capabilities to life through the story of a couple whose everyday viewing is transformed into epic audiovisual experiences. […]

Cebu Pacific Launches Exciting Campaign To Showcase The Philippines
  • Campaigns

Cebu Pacific Launches Exciting Campaign To Showcase The Philippines

Cebu Pacific, the Philippines’ leading airline, has launched an exciting new campaign designed to drive more leisure travel between Australia and the 7000-island archipelago. Entitled ‘Fly to Happy, Fly to the Philippines’, the campaign is the airline’s first creative execution since it resumed flights to Australia last year after the pandemic. The carrier currently offers […]

Shot of a young programmer working at his computer with an overlay of computer graphics
  • Media

Media-Wize Wins AUSCERT PR Account

Melbourne-based media training and technology and cyber security PR agency, Media-Wize, today announced it has added AUSCERT, one of Australia’s only computer emergency response team’s (CERT), and one of the oldest CERTs in the world as a retainer PR client. The engagement extends the successful partnership with AUSCERT that has seen Media-Wize produce and host […]

Snapchat Taps Gelato Messina In New Brand Campaign
  • Media

Snapchat Taps Gelato Messina In New Brand Campaign

Mates Day (that’s May 8 – geddit?!) is all about celebrating friendship. So Snapchat, the app loved by Aussies for keeping connected and having fun with mates, has launched a national Mates Day brand campaign to drive awareness of the platform’s focus on real relationships, in collaboration with Gelato Messina. The integrated campaign comes off […]

Travel Insurer Trippi Draws Ire From The Brazilian Embassy Over Cheeky Brazilian Ad
  • Advertising
  • Media

Travel Insurer Trippi Draws Ire From The Brazilian Embassy Over Cheeky Brazilian Ad

A new privately owned player, Trippi, has entered the $2bn (by annual gross written premium) Australian travel insurance industry as revenue in the category peaks post covid times, and Australians travel in record numbers. And to drive cut through the brand has deliberately courted a provocative creative stance that has already drawn the ire of […]

Racing NSW Hits Tabcorp With Legal Action Over $6 Million Revenue Loss
  • Marketing

Racing NSW Hits Tabcorp With Legal Action Over $6 Million Revenue Loss

NSW Supreme Court papers have revealed that Racing NSW has launched legal action against Tabcorp, a major sponsor of The Everest, over allegations it failed to adequately promote The Kosciuszko, a support race on Sydney’s marquee spring carnival day. The famous Kosciuszko race is held on The Everest day for horses trained exclusively in regional […]

AI Tools Such As ChatGPT Leading To ‘Content Overwhelm’ Among Marketers
  • Technology

AI Tools Such As ChatGPT Leading To ‘Content Overwhelm’ Among Marketers

Bynder, the leading digital asset management provider, has analyzed the impacts of increased utilization and advancements in AI on content marketing. AI has proliferated among both consumers and marketers, however, the surge in usage has led to a feeling of ‘content overwhelm’ in the marketing industry, driven by the demand to produce more content. By […]

Stake Appoints 72andSunny As It’s Creative Partner
  • Media

Stake Appoints 72andSunny As It’s Creative Partner

Stake, the Australian investment platform, has appointed 72andSunny as its creative partner on brand strategy, brand design and integrated communications. Stake, one of the nation’s largest online brokers, sought a partner to help further enrich the brand, based on the current needs of Australian investors. Bryan Wilmot, Chief Marketing Officer at Stake, said: “We were […]

Brendon Cook, OAM, Inducted into the OMA Hall of Fame
  • Media

Brendon Cook, OAM, Inducted into the OMA Hall of Fame

Brendon Cook, a visionary leader and pioneer in the Out of Home (OOH) advertising industry has been honoured with induction into the Outdoor Media Association (OMA) Hall of Fame for his remarkable achievements and lasting impact on the industry in Australia. With a career marked by unparalleled dedication and strategic foresight, Brendon Cook has continuously […]

New Campaign Highlighting Renewable Gas As A Crucial Component Of Energy Transition
  • Advertising
  • Campaigns

New Campaign Highlighting Renewable Gas As A Crucial Component Of Energy Transition

Jemena has launched a new campaign aiming to educate and raise awareness of the pivotal role renewable gas will play in the ongoing energy transition. Created by MBCS, it is the first campaign to market since the agency was appointed as the brand’s creative agency of record early last year. Under the over-arching creative and messaging […]

Love Media Welcomes Alana Dowling As New Client Director
  • Advertising

Love Media Welcomes Alana Dowling As New Client Director

Love Media has announced the appointment of Alana Dowling as its new Client Director. Lead image: Alana Dowling and Rob Wall. This strategic appointment underscores Love Media‘s commitment to enhancing its service offerings to clients and strengthening its team with top-tier talent. Dowling brings to Love Media nearly two decades of experience in the media […]

B&T 30 Under 30 – Where Are They Now? Until Recently, Prison!
  • Media

B&T 30 Under 30 – Where Are They Now? Until Recently, Prison!

We’re following up with Andrew Hamilton, the 2013 Winner of the B&T 30 Under 30 Marketing and PR Award. He’s now a full-time comedian, but it has not been a straightforward path to get there. We’re finding out how working in PR and a B&T 30 Under 30 Award helped him navigate the criminal justice […]

“We Will Never Tell A Journalist What To Write” – Nine’s Aimie Rigas On How Data Is Shaping News
  • Partner Content

“We Will Never Tell A Journalist What To Write” – Nine’s Aimie Rigas On How Data Is Shaping News

Aimie Rigas is a new breed of newsperson. She and her colleagues in the news publishing industry are using data science to shake up how news is developed and presented. Their aim – to drive greater engagement with written news content and the ads contained within. Vanessa Lyons, CEO of ThinkNewsBrands caught up with Rigas, […]

Partner Content

by B&T Magazine

B&T Magazine
Beware The Bad Guy. Billie Eilish Fans Brace Themselves For Scammers
  • Media

Beware The Bad Guy. Billie Eilish Fans Brace Themselves For Scammers

Ticket sales to the Australian tour of American singer Billie Eilish have only just started, but criminals are already rubbing their hands with glee. Some fans are complaining about ticket prices that are higher than to Taylor Swift’s shows. Experts say this will increase demand for cheaper tickets in the resale market and the risk […]

Twilio Names Chris Koehler As CMO
  • Marketing

Twilio Names Chris Koehler As CMO

Twilio, the customer engagement platform that drives real-time, personalised experiences for today’s leading brands, today announced that Chris Koehler has been appointed CMO. Koehler brings more than 25 years of expertise in customer engagement and marketing technology, and a proven track record of driving growth and innovation at industry-leading companies. As CMO, Koehler will report […]

ARN Announces Ad Sales Partnership With The Athletic
  • Media

ARN Announces Ad Sales Partnership With The Athletic

ARN’S iHeart has announced an ad sales partnership in Australia with The Athletic, one of the world’s largest digital sports publishers. The alliance aims to radically expand the Australian sports podcast landscape, offering significant access and opportunities for advertisers to engage a previously untapped audience at scale. The Athletic is renowned for its compelling storytelling […]

Burger Wars Continue As Hungry Jack’s Brings Back The Big Jack & Mega Jack
  • Campaigns

Burger Wars Continue As Hungry Jack’s Brings Back The Big Jack & Mega Jack

The moment Australia has been waiting for is here – The controversial Big Jack is back! With a much-anticipated return, Hungry Jack’s is gunning to set the nation’s taste buds alight as the iconic Big Jack and Mega Jack return to menus nationwide, for a limited time only. The burger wars reignite as The Big […]

Diverse Voices, Sustainable Choices: Natalie Dean-Weymark On Why Sustainability Is A Non-Negotiable
  • B&T Exclusive

Diverse Voices, Sustainable Choices: Natalie Dean-Weymark On Why Sustainability Is A Non-Negotiable

With sustainability a growing concern in all facets of life, there is an increasing need for diverse attitudes and minds within the media industry, driving the cause for positive change. As a B-Corp-certified PR and digital marketing agency, Compass Studio understands this need. The agency supports ethical, environmentally friendly, impact-led brands, utilising strategic storytelling to […]

New Partnership Between The Sweetshop And The Gardening.Club
  • Advertising

New Partnership Between The Sweetshop And The Gardening.Club

The Sweetshop is set to unveil a partnership that marks a new chapter as they join forces with futurist Tomas Roope and renowned AI artist Jacqui Kenny. The partnership is named ‘The Gardening.Club’, drawing upon the fact that Tomas has used the “gardening” metaphor for years to explain how A.I. is radically changing the creative […]

Concrete Playground Debuts Innovative Urban Exploration Platform With Lexus As Launch Partner
  • Advertising

Concrete Playground Debuts Innovative Urban Exploration Platform With Lexus As Launch Partner

Concrete Playground announced the launch of its redesigned website in partnership with Lexus. This partnership introduces a new era of urban discovery, enabling a deeper, more intuitive engagement with cities through a state-of-the-art digital platform. Revolutionised Digital Experience Concrete Playground’s website has undergone a significant transformation, designed to enhance the way users interact with their […]