Tag: Stuff

Posting profits but what is the future bottom line?

We have become all too familiar with New Zealand media company interim and full year reports oozing red ink, so it was pleasant surprise to see three of them reporting profits last week.

The biggest earner by a large margin was Sky, which announced its net profit had risen two per cent to $41.8 million on revenue that was up a solid nine per cent to $826 million. Over the past three years its share dividend has more than doubled.

Sky’s biggest drawcard is its sports offering and it added icing to the profit announcement by disclosing that it has secured rights to English Premier League matches. It also has long-term contracts with rugby, cricket, league and the Olympics.

Then NZME waded in with a post-tax half-yearly profit of $6.6 million that reversed a $400,000 loss for the same period last year. Radio was its standout performer, with operating revenue growing eight per cent to $61.8 million, significantly ahead of its publishing revenue.

Finally, TVNZ reported a profit of $16.3 million and an end-of-year dividend of $2.2 million. In total the state-owned company contributed close to $4 million to the government coffers in 2026.

Less pleasant was the realisation of how TVNZ and NZME achieved their profits. Continue reading “Posting profits but what is the future bottom line?” →

Milestones: The punctuation marks of media moments

My attitude to milestones is somewhat ambivalent: On the one hand they mark notable events, but on the other they remind me that time presses on.

Speaking of presses, a milestone was reached last week with the announcement that NZME is to acquire the printing equipment from Stuff’s Petone plant. It will replace the behemoth that has printed the New Zealand Herald since 1995 in the purpose-built Ellerslie press hall, where I stood to watch redesigned newspapers come off the press under my watch as editor.

The Petone press is only a third the size of the machine that is housed in an iconic edifice beside the Southern Motorway at Ellerslie. It is also more modern and was relocated from Australia when Fairfax (then owner of Stuff) closed its Melbourne printing site at Tullemarine. Stuff is consolidating its printing to its more modern Christchurch plant (see Tuesday Commentary March 31 2026). 

More importantly, the Petone press is right-sized for the current circulation of the Herald.  When the Ellerslie plant was established three decades ago, the paper’s net paid circulation was well over 200,000. The Herald no longer publishes its circulation figures, but it is undoubtedly selling fewer than half the number the Goss HT70 presses were designed to pump out for each issue.

The agreement between Stuff and NZME is a good one. It ensures the equipment remains in New Zealand and push out another (inevitable) milestone. It will extend the life of the print edition of the country’s largest newspaper. NZME would not be replacing its presses if the print edition was about to be dropped. The company revealed last week that there would be annual operational savings of about $7 million a year, and that could be the deciding factor in maintaining a print edition longer than would otherwise be the case. On the other hand, it remains to be seen whether there is anyone looking to buy 30-year-old presses built for the golden age of newspapers. Continue reading “Milestones: The punctuation marks of media moments” →

Matthew Hooton’s controversial appointment: A smart move?

 It takes a lot to bowl over seasoned journalists but the appointment of Matthew Hooton as editor-in-chief of The Post in Wellington skittled more than a few. Even the Stuff website described it as “a bombshell move”.

Hooton’s background is political communication and public relations. He was one of Jim Bolger’s press secretaries and a National Party strategist. He has never been a journalist, although his commentaries have been a regular feature in the New Zealand Herald and other publications.

His website describes him as “the country’s leading centre-right political commentator”. It goes on to say he “is well connected with the most senior figures in all three parties in New Zealand’s centre-right National-Act-NZ First Coalition Government and with the Opposition Labour Party.” Perhaps he is not on the Green Party or Te Pāti Māori invitation lists.

Although he has widespread consulting experience beyond politics, it is his perceived political leanings that will create the greatest controversy over his appointment at The Post.

There will be critics aplenty, who will see The Post being printed on blue paper and espousing the unchallenged views of the Right (with a very large Capital R). They will be goaded into red-faced rage when they see the title of his recently completed PhD thesis: “Groundwork and Principles of Applied Conservatism”.

I suspect that controversy has a large part to play in Sinead Boucher’s decision to appoint him editor-in-chief of Wellington’s daily newspaper, but it will not be through any desire to provide him with a powerful soapbox for political allegiances. Continue reading “Matthew Hooton’s controversial appointment: A smart move?” →

Let’s hope the gods smile on Stuff’s printing plans

The management at Stuff must have great trust in the weather and mechanical gods. The publisher faces multiple risks if its printing relocation from Wellington to Christchurch displeases the deities.

A willingness to risk displeasing the gods shows the problem Stuff has in addressing a predicament facing many newspaper publishers. Their large and expensive printing plants were built for an age that has passed.

Some media suggest Stuff has had its hand forced by the sale of the property housing its Petone printing plant to what might be described as a hostile party. The property had been retained by Nine Entertainment when it sold Stuff to Sinead Boucher for a token dollar. Last year the Australian media firm displayed its total disregard for its former New Zealand subsidiary when it sold the property. New owner Troy Bowker had made no secret of his dislike for Stuff (which Nine would have discovered when it did due diligence) and he lost no time in serving notice on the publisher to quit the premises by April next year.

Since the purchase, Boucher and Bowker have engaged in what could variously be described as a game of poker or a Mexican stand-off. If the new owner thought he would panic Stuff into paying over the odds to buy the property in order to keep printing, he was wrong. Last week, Boucher announced that the printing plant would be shut and all of the company’s printing requirements for the lower North island would be met by its modern plant near Christchurch Airport. She said the press consolidation had long been part of Stuff’s strategic plan. Her announcement made no mention, however, of any transport arrangements for getting the Stuff titles and third-party contract printing products to the North Island. Continue reading “Let’s hope the gods smile on Stuff’s printing plans” →