WELLINGTON – The future of one of New Zealand's largest media organizations remained unclear Monday following a series of dueling stock market announcements.
The confusion centered on Stuff, which prints many of the nation's newspapers and runs a popular news website. Stuff is owned by Australia's Nine Entertainment.
Like other media organizations, Stuff had financial difficulties before the coronavirus epidemic struck and has since seen advertising revenues plunge.
The back-and-forth began Monday when rival media company NZME filed an announcement with the New Zealand stock market saying it wanted to buy Stuff for one dollar.