PHOTO: Stuff CEO Sinead Boucher. StopPress
New Zealand’s struggling media sector may have just found its golden goose—property. With a landmark deal between Trade Me and Stuff making waves, media leaders are banking on real estate to fund newsrooms and fight off competitors. But can editorial independence survive?
🔍 Quick Take — Key Points You Need to Know:
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💼 Trade Me acquires 50% of Stuff’s digital division
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✍️ Sinead Boucher insists editorial independence is non-negotiable
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🛑 Contrast drawn with NZME, where billionaire Jim Grenon gains editorial influence
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🏡 Stuff’s property section now co-branded with Trade Me Property
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📉 The deal offsets declining digital ad revenue in the media industry
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📈 OneRoof, NZME’s rival platform, now faces tougher competition
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💸 A reflection of media’s shrinking value—Stuff was bought for just $1 in 2020
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🌏 Australian property platform Domain was sold for A$3B—proving property is media gold
🧱 Stuff’s Bold Bet: Real Estate Over Interference
When Stuff CEO Sinead Boucher announced the Trade Me deal, she was crystal clear: editorial independence comes first.
“We would never do anything to compromise that,” she said.
While she didn’t name NZME, the shot was obvious. NZME’s biggest shareholder, billionaire Jim Grenon, had just gained board access and editorial influence, sparking fears over newsroom autonomy. In contrast, Trade Me’s CEO Anders Skoe publicly endorsed the freedom of Stuff’s journalists—even if it meant critical reporting on his own company.
📢 Editorial freedom is the new currency of trust—vital not just for ethics, but also for advertisers who value credibility.
🏘️ Why Trade Me Bought In: Traffic, Trust & Turf Wars
With Stuff ranked as New Zealand’s most-viewed news site, Trade Me saw more than just journalism—they saw eyeballs. And those eyeballs are valuable for their competitive property and motoring sections.
🧠 Strategic Moves Include:
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🏷️ Stuff’s property section is now Trade Me-branded
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🔄 Listings, ads, and editorial content are shared between both platforms
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🚘 Plans to expand into motoring next
It’s a clear move to challenge NZME’s booming OneRoof platform—and a smart one, according to Stuff insiders and commentators.
📉 Classifieds to the Rescue (Again)
Digital advertising revenue is shrinking across the board. According to Newsroom’s Tim Murphy, Stuff was likely “suffering,” and this deal delivers critical relief.
💡 “Finally, classified ads are funding journalism again,” quipped one Twitter user.
That’s not just a joke—it’s a full-circle moment. Back in 2006, Stuff (under Fairfax Media) owned a controlling stake in Trade Me. Now, the roles have reversed.
🕰️ Then: Trade Me bought for $750M
🛒 Now: Stuff sold for $1 in 2020, shares half with Trade Me
📉 A Billion-Dollar Fall… and a Property-Powered Comeback?
Stuff’s deal with Trade Me reflects how far the media sector has fallen—once billion-dollar companies are now trading partnerships to stay afloat. Meanwhile, across the ditch, Domain (founded by Stuff’s former parent Nine Entertainment) was bought for A$3 billion by U.S. giant Costar.
💥 This shows just how powerful property platforms have become in modern media.
At the same time, NZME shareholders are urging their execs to maximise revenue from OneRoof, which saw over 50% growth but still posted a $16M net loss in 2023.
🏁 The Verdict
Stuff’s deal is more than a commercial strategy—it’s a survival blueprint. By anchoring its future in property, the company avoids editorial compromise while securing much-needed cash. As competition heats up, one thing is clear:
💰In 2025, property content isn’t just king—it’s the newsroom’s lifeline.
PHOTO: RNZ