Stuff to sell fibre business to Australian company.

Media business Stuff is to sell its fibre arm for an undisclosed amount to Australian telecommunications firm Vocus. Stuff was the target of intense rumors about its future and a potential merger with NZME but it said no offer had been reached earlier this week, although NZME insisted an offer was still on the cards and was seeking permission to buy Stuff for a nominal $1.

Stuff Fibre has 20,000 users on broadband.

Chief Executive Sinead Boucher said Stuff Fibre was launched by the company in 2016 to help start new businesses and overcharge their growth.

She said the strategy had proven successful and in the future, Stuff will continue to search for ways to do the same.

Last month, Stuff workers were forced to take a 12-week pay cut due to the effects of the Covid-19 crisis.

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