Stuff (company) explained

Stuff Limited
Trading Name:Stuff
Former Name:Fairfax New Zealand
Type:Privately held company
Location:Wellington, New Zealand
Key People:Sinead Boucher (owner)
Industry:Publishing

Stuff Ltd (previously Fairfax New Zealand) is a privately held news media company operating in New Zealand. It operates Stuff, the country's largest news website, and owns nine daily newspapers, including New Zealand's second and third-highest circulation daily newspapers, The Post and The Press, and the highest circulation weekly, Sunday Star-Times.[1] Magazines published include TV Guide, New Zealand's top-selling weekly magazine.[2] Stuff also owns social media network Neighbourly.[3]

Stuff Ltd has been owned by Sinead Boucher[4] since 31 May 2020. It was called Fairfax New Zealand Limited until 1 February 2018.[5]

History

Fairfax Media, 2003 - 2018

The print publications and the Stuff website previously belonged to Independent Newspapers Limited, until they were sold to Australian company Fairfax Media in 2003.[6] [7]

When a 7.8 earthquake struck Kaikōura 14 November 2016, cutting the town off via road access, Stuff (then Fairfax New Zealand) flew free copies of its newspapers to residents.[8]

In 2016, Fairfax New Zealand and media company New Zealand Media and Entertainment (NZME) sought clearance from the Commerce Commission to merge their operations in New Zealand. As part of the merger proposal, Stuff's Australian owner Fairfax Media would have received a 41 per cent stake in the combined business plus $55 million cash. On 2 May 2017, the Commerce Commission declined to approve the merger. Stuff Ltd. and NZME appealed the Commission's decision to the Wellington High Court, which upheld the Commission's decision on 18 December 2017. In June 2018, the companies appealed the Commission's decision at the New Zealand Court of Appeal, which rejected their merger bid on 25 September 2018.[9] [10] In October 2018, Stuff and NZME abandoned their first merger attempt.[11]

On 1 February 2018, Fairfax New Zealand Limited changed its name to Stuff Limited.

Nine Entertainment, 2018 - 2020

In December 2018 Stuff's parent company Fairfax Media merged with Australia's Nine Entertainment, which acquired Stuff and its stable of New Zealand newspapers. In July 2019, Nine Entertainment attempted to sell Stuff but did not receive any adequate bids.[12]

In November 2019, NZME confirmed that it had entered into negotiations with Nine Entertainment to purchase Stuff and submitted a proposal to the New Zealand Government regarding a "possible transaction." NZME proposed a "Kiwishare" arrangement that would ringfence Stuff's editorial operations and protect local journalism.[13] [14]

On 11 May 2020, NZME offered to purchase Stuff for a symbolic $1 on the basis of saving jobs during the COVID-19 pandemic. In response, Stuff's parent company Nine Entertainment terminated further discussion with NZME.[15] [16] [17] In response, NZME filed for an emergency injunction at the Auckland High Court to force Nine Entertainment back into negotiations.[18] On 19 May, the Auckland High Court rejected NZME's bid for an interim injunction against Nine Entertainment.[19] [20]

Sinead Boucher, 2020 - present

On 25 May, Nine Entertainment agreed to sell Stuff to Stuff's chief executive Sinead Boucher for NZ$1, with the transaction due to be completed by 31 May. This marks the return of the company into New Zealand ownership. Nine will retain all of the proceeds of the sale of wholesale broadband business Stuff Fibre to telecommunications company Vocus Group, and ownership of Stuff's Wellington printing press.[21] [22] [23]

2022 news team restructuring

On 18 October 2022, Stuff released details of a proposed restructure for its regional and local publications. Under the proposal, the number of newsroom staff at the Manawatū Standard, Nelson Mail, and Timaru Herald would be reduced from seven reporters to three. Other regional newspapers Taranaki Daily News and The Southland Times would retain four reporters each. In addition, news director roles at regional papers would be disestablished, with the remaining editors expected to write news. Stuff has proposed counterbalancing these job cuts by establishing a new regional team composed of a group regional editor, four news directors and nine breaking news reporters. According to Radio New Zealand, several unidentified Stuff employees expressed sadness and unease about the restructuring and increased work load.[24]

In response to the proposed restructuring, several journalists affiliated with the E tū union organised strikes in December 2022.[25] Despite opposition from employees, Stuff proceeded with the planned restructuring in early December 2022. Stuff's Chief Content Officer Joanna Norris defended the restructuring, stating that the company had created an internal news service operating across regional New Zealand that would be able to cover stories at any time and place. By contrast, Mayor of Nelson Nick Smith expressed concern about the impact of job cuts on the quality of local newspaper Nelson Mail news coverage.[26]

Flagship brands' web launch

On 27 April 2023, Stuff confirmed that it would launch separate subscription-based websites for three of its newspapers: The Dominion Post, The Press, and Waikato Times. These websites will co-exist with the free Stuff news website. In addition, Stuff confirmed that The Dominion Post would be revamped as The Post from 29 April.[27]

2023 leadership changes

On 1 June 2023, Laura Maxwell was appointed as the new Chief Executive of the Stuff Group while its owner Boucher became the Executive Chair and Publisher of the company. In addition, Stuff appointed three new managing directors to lead the major divisions of the company. Chief Audio Officer Nadia Tolich was appointed managing director of Stuff Digital, which included stuff.co.nz, Neighbourly, and Stuff's audio division. Chief content officer Joanna Norris was appointed as managing director of Stuff Masthead Publishing, which has oversight over Stuff's metropolitan, regional and community newspapers, magazines, websites, and commercial printing operations. Executive Commercial Director Matt Headland was appointed as managing director of Stuff Brand Connections, which also incorporated the company's former Stuff Events business division.[28] [29] As part of the restructuring process, Stuff announced a proposed restructuring of editorial and management jobs in mid June 2023. According to Radio New Zealand, several senior journalists were asked to reapply for several new roles including a single position as editor of the Sunday Star Times and The Post newspapers.

2024 television news bulletin

On 16 April 2024, Stuff announced an agreement with Warner Bros. Discovery New Zealand to replace the outgoing Newshub news service with an evening news bulletin provided by Stuff from 6 July 2024. The news bulletin will run from 6pm to 7pm on weekdays and a 30 minute news bulletin on Saturday and Sunday. As part of the agreement, Warner Bros. Discovery will pay Stuff an annual fee, estimated to be likely in the millions.[30] Stuff publisher Boucher also confirmed that Stuff would hire several former Newshub staff (less than 40–50) to produce the 6pm bulletins.[31]

On 7 May 2024, Stuff confirmed that it would hire seven former Newshub journalists—Samantha Hayes, Jenna Lynch, Laura Tupou, Ollie Ritchie, Juliet Speedy, Zane Small and Heather Keats—to produce its 6pm news bulletin and other news products.[32] In late May 2024, Stuff revealed that the new 6pm news bulletin would be called ThreeNews.[33]

Acquisitions

On 15 May 2024, the Stuff Group acquired the Wairarapa Times-Age newspaper, its website and associated publications from National Media Limited.[34]

Management

Allen Williams was chief executive officer of Fairfax New Zealand Limited from April 2009 until April 2013, when he was promoted to managing director of Australian Publishing Media.[35] Andrew Boyle was acting managing director until Simon Tong started as managing director in September 2013.[36] Tong left in March 2017, just days prior to the Commerce Commission announcing their final decision on the proposed Fairfax New Zealand merger with New Zealand Media and Entertainment (NZME).[37] Tong was succeeded by Boyle as acting managing director until Sinead Boucher was appointed chief executive officer in August 2017. Boucher had first been employed by Fairfax as a branch office reporter for The Press in 1993.[38]

Current publications

Community newspapers

Other

Magazines

Former publications

Stuff announced in February 2018 that it would close or sell 28 of its smaller community and rural mastheads. The 28 titles are:[39]

On 25 June 2024, Stuff announced it would close the last of its Northland community newspapers: The Northern News, The Whangārei Leader and Far North Real Estate. The Kerikeri-based Bay Chronicle was closed earlier in March 2024.[40] [41] On 30 June, Stuff announced that its Sunday News newspaper would be closed by late July 2024.[42]

Digital properties

In November 2017 Stuff Ltd took full ownership of hyper-local social media network Neighbourly, having first bought a 22.5 percent stake in December 2014. In May 2018 Stuff Ltd took full ownership of internet service provider Stuff Fibre, which won the People's Choice Award, NZ Broadband Provider of the Year, Best Fibre Broadband Provider, and Best Broadband Innovation at the 2019 Broadband Compare Awards.[43] Stuff Ltd also had a 49 percent share in New Zealand-based energy retailer energyclubnz.[44]

In 2019, Stuff Ltd launched a video platform, Play Stuff. The website hosts free content sourced from content providers such as BBC, Reuters and the Press Association as well as local content from NZ On Screen and Bravo New Zealand.[45]

On 20 May 2020, Stuff sold Stuff Fibre to Vocus[46] and sold its share of energyclubnz back to its founder.[47]

Stuff Circuit

In 2019, Stuff launched a longform journalism documentary series called Stuff Circuit with funding from NZ On Air. Notable titles have included Big Decision (abortion law reform), Life + Limb (New Zealand's military involvement in the War in Afghanistan), False Profit (which focused on conspiracy theorist and New Zealand Public Party founder Billy Te Kahika), Deleted (which looked at New Zealand companies alleged to be complicit in human rights abuses in Xinjiang), Disordered (which focused on the treatment of people with Foetal Alcohol Syndrome), and Fire and Fury (which looked at vaccine disinformation and conspiracy theories in the wake of the 2022 Wellington protests.[48] [49]

Awards

Stuff Ltd has won both national and international awards for its corporate leadership and management.

!Year!Award!Category!Result

2017Attitude Awards[50] Employer AwardWinner
2019Deloitte Top 200[51] Diversity and Inclusion LeadershipFinalist
2019INMA (International News Media Association) Global Media Awards[52] Best new concept or innovation to create new profit centresFirst place
Best idea to grow advertising sales or retain advertising clientsSecond place
Best idea to encourage print readership or engagementThird place

See also

Notes and References

  1. Web site: New Zealand's Top Local News Sites – July 2018. www.nielsen.com. en-US. 29 February 2020.
  2. Web site: About TV Guide . Stuff . Stuff Limited . 18 March 2019 . en.
  3. Web site: Fairfax NZ acquires Neighbourly website. 1 November 2017. Newsroom. en-AU. 29 February 2020.
  4. News: Graham-McLay. Charlotte. 25 May 2020. New Zealand media group Stuff to be sold to chief executive Sinead Boucher for NZ$1. en-GB. The Guardian. 7 July 2020. 0261-3077.
  5. News: Stuff to push hard into digital markets after rebrand . Tom . Pullar-Strecker . 1 February 2018 . . 23 August 2020.
  6. News: Stuff's journey from newspaper pioneer to website to 'portfolio' business . Stuff. 1 February 2018 . 23 August 2020 . live . https://web.archive.org/web/20191213025805/https://www.stuff.co.nz/business/industries/100974538/stuffs-journey-from-newspaper-pioneer-to-website-to-portfolio-business . 13 December 2019.
  7. Web site: Fairfax New Zealand and Atex Announce Agreement. Scoop. 2 November 2005. On July 1 2003 Fairfax New Zealand Ltd purchased the publishing assets of Independent Newspapers Ltd.
  8. Web site: Quakes can’t shake Fairfax. News Works. 29 February 2020.
  9. Web site: NZME Limited; Fairfax New Zealand Limited . . 4 September 2020 . https://web.archive.org/web/20200617150437/https://comcom.govt.nz/case-register/case-register-entries/nzme-limited . 17 June 2020 . live.
  10. News: Pullar-Strecker . Tom . Stuff, NZME lose at Court of Appeal over merger . 4 September 2020 . . 25 September 2018 . https://web.archive.org/web/20200606204259/https://www.stuff.co.nz/business/107342494/stuff-nzme-lose-at-court-of-appeal-over-merger . 6 June 2020. live.
  11. News: NZME and Stuff pull plug on merger . 4 September 2020 . . 24 October 2018 . live . https://web.archive.org/web/20200904115057/https://www.newsroom.co.nz/290277/nzme-pulls-plug-on-stuff-merger . 4 September 2020.
  12. Web site: Nine will 'focus on the long term' with bids for Stuff below fair value . Hamish . Rutherford . 23 July 2019 . . 6 November 2019 . live . https://web.archive.org/web/20191106102910/https://www.stuff.co.nz/business/114452561/nine-will-focus-on-the-long-term-with-bids-for-stuff-below-fair-value. 6 November 2019.
  13. News: NZME confirms it is in discussions to buy Stuff . 4 September 2020 . . 19 November 2019 . https://web.archive.org/web/20200226053702/https://www.rnz.co.nz/news/national/403641/nzme-confirms-it-is-in-discussions-to-buy-stuff . 26 February 2020. live.
  14. News: Malpass . Luke . Watkins . Tracy . Kiwishare model mooted to protect journalism in new NZME-Stuff takeover bid . 4 September 2020 . . 19 November 2020 . https://web.archive.org/web/20200606230610/https://www.stuff.co.nz/business/117534515/kiwishare-model-mooted-to-protect-journalism-in-new-nzmestuff-takeover-bid . 6 June 2020. live.
  15. News: Andelane . Lana . Nine Network says talks with NZME over Stuff acquisition were 'terminated' last week . 19 May 2020 . . 11 May 2020 . live . https://web.archive.org/web/20200512000541/https://www.newshub.co.nz/home/new-zealand/2020/05/nine-network-says-talks-with-nzme-over-stuff-acquisition-were-terminated-last-week.html . 12 May 2020.
  16. News: 11 May 2020. NZME makes offer to buy rival Stuff for $1. Radio New Zealand. 21 June 2021 . live . https://web.archive.org/web/20200515132432/https://www.rnz.co.nz/news/business/416331/nzme-makes-offer-to-buy-rival-stuff-for-1 . 15 May 2020.
  17. Web site: Response to NZME Announcement . . 19 May 2020 . live . https://web.archive.org/web/20200516232838/https://www.asx.com.au/asxpdf/20200511/pdf/44hqcmldjb6rs6.pdf . 16 May 2020 . 11 May 2020.
  18. News: Gay . Edward . Media firm NZME set out to hurt Stuff as buyout bid turned sour – lawyer . 19 May 2020 . . 15 May 2020 . live . https://web.archive.org/web/20200519003631/https://www.stuff.co.nz/business/300013150/media-firm-nzme-set-out-to-hurt-stuff-as-buyout-bid-turned-sour--lawyer . 19 May 2020.
  19. News: NZME declined an interim injunction against Stuff owner Nine . 19 May 2020 . . 19 May 2020 . live . https://web.archive.org/web/20200519003831/https://www.rnz.co.nz/news/business/416965/nzme-declined-an-interim-injunction-against-stuff-owner-nine . 19 May 2020.
  20. News: NZME loses interim injunction against Stuff owner Nine . 19 May 2020 . . 19 May 2020 . live . https://web.archive.org/web/20200519003955/https://www.newstalkzb.co.nz/news/business/nzme-loses-interim-injunction-against-stuff-owner-nine/ . 19 May 2020.
  21. News: Pullar-Strecker . Tom . Stuff ownership to return to NZ after management buy-out . 25 May 2020 . . 25 May 2020 . live . https://web.archive.org/web/20200525042602/https://www.stuff.co.nz/business/industries/121613980/stuff-ownership-to-return-to-nz-after-management-buyout . 25 May 2020.
  22. News: Rutherford . Hamish . Stuff sold for $1 to CEO Sinead Boucher by Nine Entertainment . 25 May 2020 . . 25 May 2020 . live . https://web.archive.org/web/20200525042737/https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12334494 . 25 May 2020.
  23. News: Stuff chief executive Sinead Boucher buys company for $1 . 25 May 2020 . . 25 May 2020 . live . https://web.archive.org/web/20200525043043/https://www.rnz.co.nz/news/business/417448/stuff-chief-executive-sinead-boucher-buys-company-for-1 . 25 May 2020.
  24. News: Donnell . Hayden . Stuff proposes cutbacks in regional newsrooms . 25 September 2023 . . 18 October 2023 . https://web.archive.org/web/20221211050504/https://www.rnz.co.nz/national/programmes/mediawatch/audio/2018863217/stuff-proposes-cutbacks-in-regional-newsrooms . 11 December 2022. live.
  25. News: Why did Stuff journalists walk off the job? . 25 September 2023 . . 4 December 2022 . https://web.archive.org/web/20230801220244/https://www.rnz.co.nz/national/programmes/mediawatch/audio/2018869579/why-did-stuff-journalists-walk-off-the-job . 1 August 2023. live.
  26. News: Stuff's regional rejig – and staff strife . 25 September 2023 . . 11 December 2022 . https://web.archive.org/web/20230924073707/https://www.rnz.co.nz/national/programmes/mediawatch/audio/2018870416/stuff-s-regional-rejig-and-staff-strife . 24 September 2023. live.
  27. News: Stuff to put up first paywalls for news . 28 April 2023 . . 27 April 2023 . https://web.archive.org/web/20230427075101/https://www.rnz.co.nz/national/programmes/mediawatch/audio/2018887771/stuff-to-put-up-first-paywalls-for-news . 27 April 2023. live.
  28. News: New leadership group for the next generation of Stuff announced . 25 September 2023 . . 1 June 2023 . https://web.archive.org/web/20230610064210/https://www.stuff.co.nz/business/300894990/new-leadership-group-for-the-next-generation-of-stuff-announced . 10 June 2023. live.
  29. News: Peacock . Colin . More high-level editorial change at Stuff . 25 September 2023 . . 21 June 2023 . https://web.archive.org/web/20230924073645/https://www.rnz.co.nz/national/programmes/mediawatch/audio/2018895275/more-high-level-editorial-change-at-stuff . 24 September 2023.
  30. News: Currie . Shayne . 6pm TV3 news saved – Stuff to provide hour-long weekday bulletin, 30-min weekend shows . 17 April 2024 . . 16 April 2024 . https://web.archive.org/web/20240416124609/https://www.newstalkzb.co.nz/news/business/newshub-closure-tv3-news-saved-stuff-set-to-provide-new-look-news-bulletin-under-deal-with-warner-bros-discovery/ . 16 April 2024. live.
  31. News: Peacock . Colin . Stuff to provide news bulletins to replace Newshub . 16 April 2024 . . 16 April 2024 . https://web.archive.org/web/20240416032145/https://www.rnz.co.nz/national/programmes/mediawatch/audio/2018934438/stuff-to-provide-news-bulletins-to-replace-newshub . 16 April 2024.
  32. News: Samantha Hayes to front Stuff’s new 6pm TV bulletin alongside other key talent . 11 May 2024 . . 7 May 2024 . https://web.archive.org/web/20240511030940/https://www.stuff.co.nz/nz-news/350269580/samantha-hayes-front-stuffs-new-6pm-tv-bulletin-alongside-other-key-talent . 11 May 2024. live.
  33. News: 27 May 2024 . The name for Stuff's new TV bulletin replacing Newshub . 28 May 2024. RNZ. en-nz. https://web.archive.org/web/20240527040133/https://www.rnz.co.nz/news/business/517942/the-name-for-stuff-s-new-tv-bulletin-replacing-newshub. 27 May 2024. live.
  34. News: Stuff Group acquires Wairarapa Times-Age newspapers and website . 30 June 2024 . . 15 May 2024 . https://web.archive.org/web/20240630110832/https://www.stuff.co.nz/nz-news/350278673/stuff-group-acquires-wairarapa-times-age-newspapers-and-website . 30 June 2024. live.
  35. News: Fairfax NZ names new managing director . 5 December 2019 . . 19 July 2013.
  36. News: Fairfax appoints NZ chief operating officer . 5 December 2019 . . 24 July 2013.
  37. News: New CEO, rebrand for Fairfax NZ . 5 December 2019 . . 22 August 2017.
  38. News: Sinead Boucher named as Stuff chief executive . 5 December 2019 . . 22 August 2017.
  39. News: Fairfax to sell or close 28 print mastheads . The New Zealand Herald . 21 February 2018 . 22 July 2018.
  40. Web site: de Graaf . Peter . 26 June 2024 . Stuff pulls plug on Northland community newspapers . 26 June 2024 . Te Ao Māori News . . en. https://web.archive.org/web/20240626221342/https://www.teaonews.co.nz/2024/06/27/stuff-pulls-plug-on-northland-community-newspapers/. 26 June 2024. live.
  41. News: de Graaf . Peter . Stuff pulls plug on Northland community newspapers . 30 June 2024 . . 25 June 2024 . https://web.archive.org/web/20240626221341/https://www.rnz.co.nz/news/national/520532/stuff-pulls-plug-on-northland-community-newspapers . 26 June 2024.
  42. News: Sunday News to close after six decades in print . 30 June 2024 . . 30 June 2024 . https://web.archive.org/web/20240630014211/https://www.rnz.co.nz/news/business/520881/sunday-news-to-close-after-six-decades-in-print . 30 June 2024.
  43. Web site: Stuff takes 100% ownership of Stuff Fibre. bizedge.co.nz. en. 29 February 2020.
  44. Web site: Former Genesis Energy retail head Goadby teams up with Fairfax for 'at-cost' energy 'club'. 9 October 2017. NBR. en. 29 February 2020.
  45. Web site: Stuff unveils video platform. futurefive.co.nz. en. 29 February 2020.
  46. Web site: Vocus buys Stuff Fibre . Vocus . 20 August 2020.
  47. News: Keall. Chris. 25 May 2020. How much did Vocus pay for Stuff Fibre? An indicator. en-NZ. NZ Herald. 26 May 2020. 1170-0777.
  48. News: CIRCUIT – An investigative documentary series . 10 February 2023 . . Stuff.
  49. Web site: Stuff Circuit investigative reporting . . . 10 February 2023.
  50. Web site: 2017 Attitude Awards Finalists. attitudelive.com. en. 29 February 2020.
  51. News: Deloitte Top 200: Finalists announced for celebration of Kiwi business. 20 October 2019. NZ Herald. 29 February 2020. en-NZ. 1170-0777.
  52. Web site: INMA reveals Global Media Awards winners, Helsingin Sanomat takes top prize. International News Media Association (INMA). 29 February 2020.

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