Stuff buyout a good day for journalism

Monday was a great day for journalism and the Nelson Mail, with the announcement the company which owns the paper, Stuff, would be back in New Zealand hands by the end of the month.

Stuff chief executive Sinead Boucher announced she had purchased the company, with a takeover date of May 31.

The news marks the end of a rollercoaster ride for staff at the

Nelson Mail and the wider Stuff group, who have been anxious about the future given the widely publicised frustrations Australian owners Nine faced in trying to sell the business.

Boucher has plans to develop an ownership model which will give staff a shareholding stake in the business.

It’s great news for independent journalism and for the Nelson Mail, its readers, advertisers and the communities we serve.

The Nelson Mail has a long and proud history, having served the people of the region for 154 years. You can count on us to cover the issues that matter and we take that responsibility seriously. During the lockdown we saw our circulation increase as more residents took out subscriptions. We know you value having a trusted local news source, and as Nelson’s only dedicated regional news service we are determined to continue delivering that service.

It’s been well reported that the media has taken a big hit from Covid-19 and the Nelson Mail was not immune to that. There is plenty of hard work ahead. But, like our new owner, we are up for the challenge.

The change of ownership means money invested in the company by our loyal subscribers and advertisers, who continue to see the value in having a regional newspaper, is now supporting a New Zealandowned business with journalism at its heart.

Recent months have been tough on us all, and I want to thank those who have continued to advertise with us, our loyal readers – who are supporting us in growing numbers – and the staff who have given up 15 per cent of their pay for 12 weeks to help us get through.

Stuff Ma¯ ori affairs journalist Carmen Parahi was recently asked to come up with a phrase to sum up what the company wanted to achieve – her words perfectly capture the new journey we are about to embark on – ‘‘Kia tu¯ peke te toa’’ or ‘‘let the brave leap’’.

There is plenty of hard work ahead. But, like our new owner, we are up for the challenge.