Russell McVeagh’s $1 Deal – The Stuff Purchase

Russell McVeagh's $1 Deal - The Stuff Purchase 3

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.

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.

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