Does NZME’s last gasp for newspaper monopoly spell doom for Stuff?

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Well this is interesting…

NZME seeks urgent approval, help to buy Stuff for $1 ‘to help save jobs, newspapers’

NZ Herald owner NZME has today sought urgent Government help to allow it to buy rival publisher Stuff within three weeks, saying it is the best owner to save newspapers and jobs.

It has filed an urgent Commerce Commission application today for the purchase – for $1 – and wants to have the transaction complete by May 31.

It is seeking the Government’s help with urgent legislation to help clear the application.

TDB Recommends NewzEngine.com

…interesting because of what it might be saying about what is happening behind the scenes.

Stuff have already come out and said they have terminated talks with NZME and have been blindsided by this announcement.

So what does NZME know that Stuff doesn’t want the market to know?

Could it be that NZME knows Stuff is on its last legs and are preparing to do a Bauer and they are trying to communicate to the Commerce Commission that it’s better Stuff limps along with NZME than goes completely?

Clearly NZME knows something that the rest of the market doesn’t.

14 COMMENTS

  1. Here is the reality of the economic reset we are going to get.
    It’s the reverse of the socialist utopia being wished for around here :
    small businesses will collapse, big corporations will get bigger and more powerful, the very rich get richer mistget poorer, the press will crumble and what’s left become owned and controlled by even fewer people , mass unemployment will drive wages lower, the government will increase surveillance of its citizens and will push for a cashless society.

    This is our future.

    • Spot on.
      And yet the boomers are more worried about house prices.
      And yes that’s a generalisation get over it.

  2. On a lighter note, the funniest thing this year was stuff sticking out the begging bowl and putting its story up on Facebook and getting eaten alive by the readership they treated with contempt for so long.
    We need a free press but we already don’t have one, this merger would mean nothing.

    • Utopian perhaps! We need to go around and pick up the pieces that have been left from Hurricane 19084. Though years ago, artifacts are still to be found and utilised where there is good quality left in them here and there.
      But no NZrs are too proud; better to be ragamuffins who don’t stoop to pick up anything less than a thousand or two. If a thousand stoop to pick up just one we can have the same amount with the co-operation that goes with it. It is time that we realised that beggars can’t be choosers, also the saying that ‘If wishes were horses, beggars would ride’. First catch your thousand, and then work out how to remake it to a more useful and valuable resource.

  3. Yes Matyn as NZME offers $1 to buy the last standing media giant it just represents another monopolistic takeover of the last independent media we had.

    We wonder why Government did not buy NZME outright as it was going into insolvency?????

    Then now Government failed us there, the slippery slope is where we will find ourselves without virtually any ‘promise lf a public media platform offering us “The peoples voice”.

    NOW with only ‘TDB and Scoop’ left clinging on so we need to support you 100%.

    • “another monopolistic takeover of the last independent media we had”.. So, Stuff, and newshub are Independent media? There’s nothing independent about those two.. Bought and paid for by the colonial hegemony before they were even properly formed… I viewed them as just the rags that printed rubbish the herald couldn’t without damaging it’s “facade” of neutral journalism for the public good.. Good riddance to both of them.. Scoop leaves them all for dead in pure journalistic, ethics at the least.. If the tories want to keep their propaganda sheets going, then let them part with a few pennies out of their massive cash assets to keep them afloat.. It would be more honest than pretending to need government help..

      • indeed!

        Consumerism, business-as-usual propaganda, eco-vandalism, climate change denial, presentation of phony narratives, ‘meticulous’ misreporting, and unsubstantiated opinion -all dressed up as ‘serving the community’ while in fact promoting looting and polluting.

      • Read the bottom line stefan,
        “NOW with only ‘TDB and Scoop’ left clinging on so we need to support you 100%.”
        that means they are the only two independent media, be they micro media.

        I did say if stuff was taken over by NZME – they would be ‘monopolistic’.

        You read it differently – but the last sentence dismisses the merger as independent..

  4. It would be a different matter if Stuff were to buy NZME. Stuff at least tries to give a semblance of balance. NZME is big business framing so called news to act as cheer leaders for the National party and ACT.

  5. NZME is a mouthpiece for big business and the National Party. Their only interest is to sell advertising and right wing politics. Truth, balance? Meh!

    • STUFF is a mouthpiece for the Jacinda fan club and the Labour Party. Their only interest is to sell advertising and left wing politics. Truth, balance? Meh!

      Opinions are great aren’t they!

      • They were sycophants for Key when he was in, now they are 110% Jacindamaniacs, but with extra woke.
        Someone on this blog – it might have been Mr Trotter (apologies if it wasn’t) pointed out correctly that the press is pro establishment rather than left or right necessarily. It took them a couple of years to change tack but they did.
        It was almost unbearable watching the lack of scrutiny of the Key government, but more nauseating now with the Jacinda love in with big dollops of PC.

  6. There is a song from the distant past called The Donkey Serenade. We should all go up to The Beehive and sing it to the holder/s of the Financial Pursestrings who is refraining from maintaining us with a newspaper of renown – world famous in NZ which is a pretty important little country acshually.

    So get with it you donkeys – Grant Robertson and amigos – and pull your weight in this country – start thinking of the hay to be made when NZ actually gets fired up again, and you will be weighed down with the medals and roses from a grateful public.
    (https://www.youtube.com/watch?v=RyHNlfT6B9E
    This is a lovely bit of romantic nonsense nicely staged, from a fine singer – enjoy!

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