Russell McVeagh posted apiece on LinkedIn admiring the “bold move” of Stuff CEO Sinead Boucher purchasing the troubled media group for $1, posting a picturre of Boucher handing over the purchase amount to Wellington-based partner Mei Fern Johnson last week.
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The law firm worked on the management buyout, with four partners working on the buyout for Australia’s Nine Entertainment.
The sale brings to an end a four year long often bitter saga when NZME, publisher of ‘The Herald’ attempted to merge with Stuff but were rebuffed by the Commerce Commission in a case that went to the Court of Appeal and then made its unsuccessful attempt to do the $1 deal itself, which also failed in the High Court.
