Stuff Group has purchased the daily news site and associated titles under the Wairarapa Times-Age masthead. The publication will become part of Stuff's regional business, the country's largest.
Stuff Group chief executive Laura Maxwell said the purchase brings Stuff’s scale, support systems and broad commercial opportunities to the business, while retaining community journalists and supporting local concerns.
“We are particularly pleased that owner Andrew Denholm will join Stuff in a new role, continuing to drive the success of the WTA locally,” she said.
Created in 1938 by the merger of two local titles, the WTA was owned by NZME (then APN News & Media) before being bought into local ownership in 2016.
NZME has also recently been on a regional media buying spree, snapping up publications and local media concerns such as Tauranga-based SunMedia.
Auckland mayor Wayne Brown revived his vision for the city's proposed future fund, to be capitalised through the sale of the council's remaining stake in the Auckland International Airport, valued at about $1.3 billion.
The plan - unveiled as part of the Auckland long-term plan 2024-34 - would go ahead without the port lease, which could create a potential "windfall gain" of about $20 million next year.
Brown said based on independent advice, the fund’s cash contribution to Auckland Council is expected to be $400m more than its dividends from Auckland airport shares over the next 10 years. This will be a 2.2% annual savings for each ratepayer, he said.
The revised mayoral proposal outlines a rates increase for the average Auckland residential property of 6.8% in FY25, 5.8% in FY26, and 7.9% in FY27. Beyond that, he said, the average rates increase would be "no more" than 3.5% until 2034.