Sinead Boucher is now New Zealand's biggest media mogul and says she's using her platform to challenge Facebook and other social media giants. WELLINGTON: Tucked away in Sinead Boucher's sock drawer is the one-dollar coin that transformed the former journalist into New Zealand's biggest media mogul, giving her a platform to challenge Facebook and other social media giants.
After agreeing the purchase price with Stuff's former owners, Sydney-based Nine Entertainment, Boucher visited a Wellington law office to complete the deal while New Zealand was in the midst of its COVID-19 lockdown."It was the time of social distancing, so I had to throw my dollar to the lawyers," she said."That was dropped the first time, so I had to pick it up and do it again.
This journalistic pedigree has prompted Boucher's boldest move since taking over Stuff, a decision in June to cut ties with Facebook, which had previously driven 15-20 per cent of the website's traffic. "I have to say, there's been a very minimal impact on our audience," she added, saying the drop in readership was"in the lower single digits".
Stuff's main outlet is the stuff.co.nz website but Boucher describes the group as"an ecosystem of digital businesses", some of which are not news related but help subsidise the expensive business of journalism.
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