CEO buys ailing New Zealand media giant for one dollar

CEO buys ailing New Zealand media giant for one dollar

WELLINGTON — Struggling New Zealand media giant Stuff Limited was sold in a management buy-out deal for the symbolic fee of NZ$1.00 (US$0.61), the group’s Australian owners Nine Entertainment announced Monday. Nine said that Stuff chief executive Sinead Boucher would take over the company, which operates New Zealand’s most popular news website, stuff.co.nz, and titles […]