Business Standard

Monday, December 23, 2024 | 02:44 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

New Zealand's media firm Stuff to be sold for a single dollar to its CEO

The organization Stuff prints many of the nation's daily newspapers and runs a popular news website of the same name. It employs about 900 staff, including 400 journalists

Global lenders have been selective in taking exposure to Indian NBFCs. Strong parentage adds to the appeal, but is not a passport to syndication success
Premium

Boucher said her plan is to transition the ownership by giving staff a direct stake as shareholders in the company.

APPTI Wellington
One of New Zealand's largest media organizations will be sold for a single dollar to its chief executive, the owners announced Monday.

The organization Stuff prints many of the nation's daily newspapers and runs a popular news website of the same name. It employs about 900 staff, including 400 journalists.

Owned by Australia's Nine Entertainment, Stuff faced financial challenges before the coronavirus pandemic struck and has since seen advertising revenues plunge.

In a statement to the Australian stock market, Nine said Stuff would be sold to CEO Sinead Boucher in a management buyout deal that will be completed by
Topics : New Zealand

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in