Latest news with #StuffDigital
Kiwiblog
05-06-2025
- Business
- Kiwiblog
Will Stuff staff get their 10%?
Stuff owner Sinead Boucher has sold 50% of Stuff Digital to Trade Me, which in turn is 100% owned by Apax Partners, a British private equity firm with around US$77 billion in assets. Good on Boucher. I have no issue with foreign investment in media companies. The discipline they may bring to Stuff Digital could be very good for them. In 2021, Stuff reported: Stuff owner and chief executive Sinead Boucher is gifting a 10 per cent share of the media firm to the company's close to 900 staff. The stake in the company will be transferred to a trust controlled by employee representatives, rather than the shares being directly owned by staff members. The arrangement means staff would receive through the trust a share of any dividends Stuff pays out, and 10 per cent of the sale proceeds if Stuff was later sold or listed, she said. This never happened, as it was later modified to happening if any shares were sold or exited. Presumably this has happened, so we will see 10% of Stuff Digital transferred to a staff trust? Radio NZ report: After Boucher bought Stuff for $1 in 2020, she told staff that a 10 percent stake of the company would be put into a staff trust in the event that the business was sold or listed. A spokesperson said that, while there was still some time until the deal was to be completed, it was Boucher's expectation that a payment would be made into the staff trust. A payment? Would it be a payment equal to one fifth of what Trade Me paid? Shouldn't it be non-voting shares of 10% of Stuff Digital, rather than a payment? After all, that is what was promised?
National Business Review
05-06-2025
- Business
- National Business Review
New boss for media company Stuff Digital
Media company Stuff Digital has appointed a familiar face as its new managing director. Nigel Tutt will begin his new role in August, more than a decade after he left the business to lead digital marketing company Affinity ID. The appointment follows the resignation of Stuff chief executive Laura Maxwell last August – a role that has since been filled by the company's owner and former chief executive, Sinead Boucher. Tutt was the general manager of Stuff's digital business in the early 2010s, and before that was the commercial manager of its publishing business, when it was known as Fairfax Media. Since leaving Affinity ID, he has been the chief executive of economic development agency Priority One, in his home region of the Western Bay of Plenty. Boucher said in a statement she was thrilled he was rejoining the media company. 'Nigel is a hugely experienced digital media, marketing and technology leader who has a striking combination of skills for this next era in Stuff Digital Ltd,' she said. 'When he led what was then Fairfax's digital business where I was Stuff editor, he spearheaded significant revenue and audience growth through sharp commercial skills and a deep understanding of what Kiwis want.' Tutt said he had watched Stuff Group's latest transformation 'with delight'. The company had gone from strength to strength, 'forging the leading position in independent media and making bold moves at a time when the industry needs it most'. He will report to the new Stuff Digital Ltd board, chaired by Boucher, with equal representation from Trade Me and Stuff Group. It was confirmed this week that Trade Me planned to buy 50% of Stuff Digital, in a media shake-up that will see renewed competition between Stuff and its main rival, NZME. The deal does not include Stuff's masthead publishing business, which manages its legacy newspaper brands. This is supplied content and not commissioned or paid for by NBR.
RNZ News
03-06-2025
- Business
- RNZ News
Stuff owner on Trade Me buying half of Stuff Digital
business media 7:50 am today Trade Me is set to buy half of Stuff Digital in what is likely to be a multi-million-dollar deal. Stuff owner Sinead Boucher spoke to Corin Dann.
RNZ News
03-06-2025
- Business
- RNZ News
Stuff Digital to sell 50 percent stake to Trade Me
Just hours before NZME's annual shareholder meeting, which is expected to roll out some big changes, its rival Stuff made its own headlines. The company announced that Stuff Digital was selling a 50 percent stake to Trade Me. The deal will bring together New Zealand's largest news website and online classifieds businesses. Money correspondent Susan Edmunds has more. Tags: To embed this content on your own webpage, cut and paste the following: See terms of use.
The Spinoff
03-06-2025
- Business
- The Spinoff
The Fold: Trade Me buys 50% of Stuff Digital
Glen Kyne joins Duncan Grieve to discuss today's announcement that Trade Me has purchased a 50% stake in Stuff Digital. Glen Kyne joins Duncan Greive on The Fold to discuss today's announcement that Trade Me has purchased a 50% stake in Stuff Digital, with an explicit focus on growing its property audience. Kyne and Greive break down the strategic rationale, the challenge it represents to NZME and how this new battle might play out in the coming months and years.
