Latest news with #AndersSkoe
RNZ News
2 days ago
- Business
- RNZ News
Trade Me sale will not alter commitment to news
Stuff CEO Sinead Boucher and Trade Me CEO Anders Skoe Photo: Supplied / TradeMe The owner of media company Stuff says it remains committed to news despite the sale of its digital arm. The company has agreed to sell 50 percent of Stuff Digital , which runs the Stuff website and ThreeNews, to online marketplace Trade Me. Under the agreement, Stuff's property section will become Trade Me Property branded, with listings, ads and some content shared across both platforms. Stuff Group chief executive Sinead Boucher told Morning Report the change was about expanding and diversifying the business. "We've done a very good job over the last five years of securing our own future. But we're in a industry and in a world where there is lots of change, lots of things still to be done and lots of opportunity," she said. "We want to make sure we're in the best position to harness that and keep growing." Since last July, Stuff has been providing an evening news bulletin, replacing the former Newshub news service, after the company announced an agreement with Warner Bros Discovery New Zealand. "There isn't going to be any changes as a result of this deal to any of our products or our staff of people," Boucher said. "Whatever happens to that, that's up to Warner Brothers, it's not up to Stuff." Boucher said she had no concerns about the future business moves of Trade Me's owners. Trade Me was bought by private equity company Apax Partners in 2019. Stuff's mastheads, The Post, the Press and the Waikato Times, its events business and Neighbourly were not included in the deal. Last year the media company was divided in two - Stuff Digital and Masthead Publishing which runs newspaper brands and its own websites. "[Masthead Publishing] is also a very digitally focused business," Boucher said. "It has spent the last couple of years building up very strong subscription audiences. We have re-positioned The Post for example as a national publication around politics, business, economics, etc. That's continuing to go really well for us." Boucher did not rule out a future sale of the mastheads but said she had no immediate plans to do so. "We're in media, nobody should ever say 'always' or 'nevers', but that's certainly not on my agenda at the moment." The property section of Stuff would be clearly delineated, Boucher said. Meanwhile, former editor of the New Zealand Herald and media commentator Gavin Ellis said the Herald had been drifting of late and there had been a clear signal that there needed to be more media experience on the board. He was commenting after media company NZME, which owns the New Zealand Herald and Newstalk ZB, revamped its board . Canadian businessman and activist shareholder Jim Grenon launched a bid to replace the board with himself and three associates. He ended up with a seat on the board and former National government minister Steven Joyce has taken over as chair. Ellis welcomed the appointment of Joyce who brought not only political expertise but also a lengthy association with the radio industry. He was a lot more "nuanced" than people realised and would be good for the board. However, he was less sure about the impact of Grenon and his attitude to editorial matters. "New Zealand media for as long as I can remember have been free of political interfence from their boards." Editorial independence was "a precious thing to preserve". "I think that anybody who crosses that editorial line does so at their peril. I think the paper would suffer and levels of trust would suffer." No assurances had been given so far, Ellis said, and the Herald's soon to be created Editorial Advisory Board should have a binding charter which should be made public.
Scoop
3 days ago
- Business
- Scoop
Trade Me Invests In Stuff Digital Ltd
Press Release – Trade Me Limited Trade Me Chief Executive Anders Skoe says the acquisition brings together two highly successful Kiwi brands which are intrinsic to the lives of millions of New Zealanders. Stuff Group and Trade Me are joining forces, with the nation's leading property, motors, jobs and marketplace portal set to take a 50 per cent stake in Stuff Digital Ltd, which has the country's largest New Zealand website, Trade Me Chief Executive Anders Skoe says the acquisition brings together two highly successful Kiwi brands which are intrinsic to the lives of millions of New Zealanders. 'For 26 years, Trade Me has supported New Zealanders through all life's milestones. This is an exciting investment to accelerate our growth by connecting with even more Kiwi to help them live the life they've always dreamed of.' Stuff Group Owner and Publisher Sinead Boucher says the investment in Stuff Digital has a pleasing symmetry, given the organisations' shared history, values and commitment to making an impact in the lives of New Zealanders. 'This is the first time since the management buy out of Stuff five years ago that I have accepted an equity partner into the business,' she says. 'It was important to me that we found the right partner at the right time in our growth strategy, protecting our fiercely independent media business which is loved and trusted by millions of New Zealanders. 'Trade Me is that partner – a great Kiwi success story with the largest property and motoring audiences in New Zealand. Combined with the largest and most engaged digital news audience in the country, this deal provides for brilliant new opportunities together, and for Stuff Group, continued investment in technology and talent for the future.' Skoe says the acquisition marks an exciting next chapter for Trade Me. 'Stuff is New Zealand's most dynamic and loved media company and its mission to have a positive impact on New Zealanders' lives aligns with our purpose of connecting Kiwi to create the life they want.' Skoe says the advantages of the deal were clear from the outset, particularly for Trade Me Property customers. 'This acquisition will enable vendors and agents to reach an even wider pool of prospective buyers while empowering buyers with every resource to navigate the property market with confidence. 'Together, we can generate the highest quality property market insights and keep all of Aotearoa informed. This will not only strengthen our existing offering, but enable us to continue to play a pivotal role in the Kiwi property journey.' Under the agreement, Stuff's property section will become Trade Me Property branded, with listings, advertisements and some content shared across both platforms. Boucher says editorial independence and integrity is intrinsic to Stuff, and Trade Me is committed to upholding Stuff's Editorial Code of Ethics and Practice. Boucher will chair the new Stuff Digital Ltd Board, which will include Skoe, with equal representation from both organisations. Stuff will retain operational control of the business through the Chair's casting vote. The 50% stake in Stuff Digital excludes Stuff Group's Masthead Publishing business, Events and Neighbourly. The deal is subject to some standard conditions and expected to complete within the next few months. All financial details of the investment remain confidential. About Stuff Group Stuff connects with around 3.4 million Kiwis every month across its major businesses, delivering quality news, content and experiences that help make Aotearoa a better place. Stuff Digital has unrivalled reach across the nation through number one news website and homegrown social network Neighbourly. Stuff Masthead Publishing connects with audiences through subscriber-led digital and printed metropolitan, regional and community publications, as well as a range of much-loved consumer magazines. Stuff Brand Connections arms advertisers and partners with a comprehensive range of cross-media advertising and Stuff Events solutions. Find out more at Trade Me is the largest online marketplace and classified site in Aotearoa. For 26 years it has been the place Kiwi look first to buy and sell across property, motors, jobs and marketplace with over 1.5 million Kiwi visiting Trade Me every month.
RNZ News
3 days ago
- Business
- RNZ News
Stuff and TradeMe to merge
Stuff Group CEO Sinead Boucher and TradeMe CEO Anders Skoe Photo: Supplied / TradeMe Stuff and TradeMe have announced a merger. In a statement, the companies say TradeMe will take a 50 percent stake in Stuff Digital. Stuff's mastheads, events and a neighbourly businesses are not included in the deal. The amount of the deal has not been disclosed. Colin Peacock is presenter of RNZ's Mediawatch.
Scoop
3 days ago
- Business
- Scoop
Trade Me Invests In Stuff Digital Ltd
Press Release – Trade Me Limited Trade Me Chief Executive Anders Skoe says the acquisition brings together two highly successful Kiwi brands which are intrinsic to the lives of millions of New Zealanders. Stuff Group and Trade Me are joining forces, with the nation's leading property, motors, jobs and marketplace portal set to take a 50 per cent stake in Stuff Digital Ltd, which has the country's largest New Zealand website, Trade Me Chief Executive Anders Skoe says the acquisition brings together two highly successful Kiwi brands which are intrinsic to the lives of millions of New Zealanders. 'For 26 years, Trade Me has supported New Zealanders through all life's milestones. This is an exciting investment to accelerate our growth by connecting with even more Kiwi to help them live the life they've always dreamed of.' Stuff Group Owner and Publisher Sinead Boucher says the investment in Stuff Digital has a pleasing symmetry, given the organisations' shared history, values and commitment to making an impact in the lives of New Zealanders. 'This is the first time since the management buy out of Stuff five years ago that I have accepted an equity partner into the business,' she says. 'It was important to me that we found the right partner at the right time in our growth strategy, protecting our fiercely independent media business which is loved and trusted by millions of New Zealanders. 'Trade Me is that partner – a great Kiwi success story with the largest property and motoring audiences in New Zealand. Combined with the largest and most engaged digital news audience in the country, this deal provides for brilliant new opportunities together, and for Stuff Group, continued investment in technology and talent for the future.' Skoe says the acquisition marks an exciting next chapter for Trade Me. 'Stuff is New Zealand's most dynamic and loved media company and its mission to have a positive impact on New Zealanders' lives aligns with our purpose of connecting Kiwi to create the life they want.' Skoe says the advantages of the deal were clear from the outset, particularly for Trade Me Property customers. 'This acquisition will enable vendors and agents to reach an even wider pool of prospective buyers while empowering buyers with every resource to navigate the property market with confidence. 'Together, we can generate the highest quality property market insights and keep all of Aotearoa informed. This will not only strengthen our existing offering, but enable us to continue to play a pivotal role in the Kiwi property journey.' Under the agreement, Stuff's property section will become Trade Me Property branded, with listings, advertisements and some content shared across both platforms. Boucher says editorial independence and integrity is intrinsic to Stuff, and Trade Me is committed to upholding Stuff's Editorial Code of Ethics and Practice. Boucher will chair the new Stuff Digital Ltd Board, which will include Skoe, with equal representation from both organisations. Stuff will retain operational control of the business through the Chair's casting vote. The 50% stake in Stuff Digital excludes Stuff Group's Masthead Publishing business, Events and Neighbourly. The deal is subject to some standard conditions and expected to complete within the next few months. All financial details of the investment remain confidential. About Stuff Group Stuff connects with around 3.4 million Kiwis every month across its major businesses, delivering quality news, content and experiences that help make Aotearoa a better place. Stuff Digital has unrivalled reach across the nation through number one news website and homegrown social network Neighbourly. Stuff Masthead Publishing connects with audiences through subscriber-led digital and printed metropolitan, regional and community publications, as well as a range of much-loved consumer magazines. Stuff Brand Connections arms advertisers and partners with a comprehensive range of cross-media advertising and Stuff Events solutions. Find out more at About Trade Me Limited Trade Me is the largest online marketplace and classified site in Aotearoa. For 26 years it has been the place Kiwi look first to buy and sell across property, motors, jobs and marketplace with over 1.5 million Kiwi visiting Trade Me every month.
Otago Daily Times
3 days ago
- Business
- Otago Daily Times
TradeMe to buy 50% of Stuff Digital
Stuff Group chief executive Sinead Boucher and TradeMe chief executive Anders Skoe. Photo: Supplied / TradeMe Stuff and TradeMe have announced a merger. In a statement, the companies say TradeMe will take a 50% stake in Stuff Digital - which publishes the website and ThreeNews. Stuff's mastheads - The Post, the Press and the Waikato Times. Its events business and Neighbourly are not included in the deal. Last year the media company was divided in two - Stuff Digital and Masthead Publishing, which runs newspaper brands and their own websites. In February this year Boucher changed her holdings in Stuff Digital from being the owner of the one and only share to being the sole holder of one million shares. Boucher said the deal with TradeMe provided "brilliant new opportunities together, and for Stuff Group, continued investment in technology and talent for the future." "It was important to me that we found the right partner at the right time in our growth strategy, protecting our fiercely independent media business which is loved and trusted by millions of New Zealanders," she said in a statement. TradeMe chief executive Anders Skoe said the advantages of the deal were clear from the outset - particularly for TradeMe Property customers. "This acquisition will enable vendors and agents to reach an even wider pool of prospective buyers while empowering buyers with every resource to navigate the property market with confidence." Under the agreement, Stuff's property section will become TradeMe Property branded, with listings, ads and some content shared across both platforms. Boucher said editorial independence and integrity was intrinsic to Stuff, and TradeMe was committed to upholding Stuff's editorial code of ethics and practice. The value of the deal has not been disclosed.
