CEO buying struggling New Zealand media company for NZ$1

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One of New Zealand's largest media organizations is being 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.

Boucher said she's been "blown away" by the positive feedback she's been receiving about the purchase. She said she has no immediate plans for any staff reductions or newspaper closures, although added the ownership change isn't a silver bullet to cure the issues that Stuff and other media companies are facing.

 

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So that's what the cbc is worth.

At least the company will continue operating and it will be completely managed from NZ.

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