Stuff CEO Sinead Boucher buys the company, announces 'great new era'

Bold, brave and positive are some of the words being used to describe a management buyout of Stuff by the company's chief executive Sinead Boucher.

Boucher has bought Stuff from its Australian owners Nine Entertainment for $1, ending months of speculation about a potential takeover.

She has signalled plans to develop an ownership model that would give staff a shareholding stake in the business.

Broadcasting Minister Kris Faafoi said the deal "maintains plurality and competition in New Zealand's news media, as well as making Stuff New Zealand-owned again".

"This is a bold move by Sinead and demonstrates her passion and commitment, both as a journalist and as chief executive of Stuff," he said.