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Stuff CEO Sinead Boucher buys the company, announces 'great new era'
Colm McGrath • May 24, 2020
Stuff CEO Sinead Boucher buys the company, announces 'great new era'
Bold, brave and positive are some of the words being used to describe a management buyout of Stuff by the company's chief executive Sinead Boucher.
Boucher has bought Stuff from its Australian owners Nine Entertainment for $1, ending months of speculation about a potential takeover.
She has signalled plans to develop an ownership model that would give staff a shareholding stake in the business.
Broadcasting Minister Kris Faafoi said the deal "maintains plurality and competition in New Zealand's news media, as well as making Stuff New Zealand-owned again".
"This is a bold move by Sinead and demonstrates her passion and commitment, both as a journalist and as chief executive of Stuff," he said.
Boucher has bought Stuff from its Australian owners Nine Entertainment for $1, ending months of speculation about a potential takeover.
She has signalled plans to develop an ownership model that would give staff a shareholding stake in the business.
Broadcasting Minister Kris Faafoi said the deal "maintains plurality and competition in New Zealand's news media, as well as making Stuff New Zealand-owned again".
"This is a bold move by Sinead and demonstrates her passion and commitment, both as a journalist and as chief executive of Stuff," he said.
There is speculation that bringing Stuff back into local ownership could make it more politically-palatable for the Government to put together a more comprehensive package of aid for the media sector that included Stuff.
Read the full article on Stuff here.
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