Sublime Group confirms major shareholding in Scoop Holdings

Media Release - Sublime Group - 30 January 2014

Sublime Group confirms major shareholding in Scoop Holdings Ltd

Sublime Group, recently finalised purchaser of the NZX Newsroom service, has confirmed that it has become a cornerstone shareholder in the new entity Scoop Holdings Limited, securing the future of the country’s pioneering news distribution service and independent voice in New Zealand journalism at Scoop.co.nz

“In its 15 years, Scoop has become an indispensable part of the fabric of the New Zealand media, creating a vehicle for the free and open distribution of the views of any and all voices in the New Zealand public realm and championing independent journalism,” said Craig Pellett, Sublime’s Chief Executive Officer.

Sublime believes there is a significant opportunity to grow the Scoop business and has invested accordingly, Mr Pellett said.

“With focused commercial ownership, our simple goal is to advance the new company’s position as a clearinghouse for news and information, independent journalism, and as a champion of freedom of speech from all voices within civil society.”

Mr Pellett confirmed also that, following his resignation as interim general secretary of the Internet Party, Scoop co-founder Alastair Thompson would return to work at Scoop in a role to be mutually determined over coming weeks with a business focus.

"Alastair’s breadth of knowledge of the Scoop business and wider eco-system is hugely valued", Mr Pellett said.

With this situation now clarified Alastair Thompson has re-stated his own commitment to rejoining the effort at Scoop to build a strong and sustainable news model for the future.

Thompson: “I owe an apology to many people close to me, especially to my wife, my family, my colleagues and employees at Scoop and new investors for recent events. It is now fully apparent to me that I had taken a wrong turning in my involvement with The Internet Party, especially given the fact that my life’s work has centred on Scoop”.

Mr Pellett also said an announcement on a new Editor at Scoop would be made next week.

About Scoop Holdings Ltd

Scoop Holdings Ltd owns Scoop.co.nz and its related products and services.

Craig Pellett is a part-owner, founder and CEO of Sublime Group, a specialist business process automation company. Sublime Group currently owns 25% of Scoop Holdings Ltd and Craig is a director and Chairperson of Scoop Holdings Ltd.

Selwyn Pellett (brother of Craig) is a tech entrepreneur. Via his ownership through Storm Distribution Ltd, and shareholding in Scoop Media Limited, Selwyn currently owns approximately 35% of Scoop Holdings Ltd. Selwyn is also a director of Scoop Holdings Ltd.

The remaining shareholding of Scoop Holdings Ltd is split between the original shareholders of Scoop including substantial shareholdings held by the Thompson Family.

ENDS

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