Talk of potential Trade Me deal
Trade Me is believed to be close to announcing a full or part acquisition of Stuff’s digital arm, including the Stuff news website, according to a media report.
The online auction and classifieds site is understood to have held talks with Stuff and a potential deal could be announced before mid-April, reports the NZ Herald.
However, nothing has been confirmed by either party and such an acquisition might be subject to Commerce Commission consideration.
The move comes after Stuff separated its business into two companies late last year – Stuff Digital, which looks after the free Stuff and Neighbourly websites, and Stuff Masthead Publishing, which looks after the company’s publishing assets and paywalled websites.
The NZ Herald says questions about a potential acquisition of some or all of Stuff Digital by Trade Me were sent to the two companies on March 25.
Stuff issued a statement saying it never comments on whether discussions have been held with third parties interested in investing in its businesses.
Anders Skoe, Trade Me chief executive, did not answer the specific questions either.
A statement from him explained Trade Me has an ongoing commercial relationship with Stuff, “which in recent months has included discussions regarding content sharing among other collaborations”.
Trade Me may view having a stake in Stuff Digital as a chance to extend its audience reach, especially as it faces growing competition from other sites such as Facebook’s Marketplace, reports the NZ Herald.
