Fairfax raids Stuff kitty in lead up to Nine merger

Fairfax raids Stuff kitty in lead up to Nine merger
Paul McBeth
By Paul McBeth Dec. 7 (BusinessDesk) - Australia's Fairfax Media Group raided Stuff's kitty ahead of a planned merger with broadcaster Nine Entertainment Co, which doesn't see a home for the New Zealand unit.  Stuff paid $22.5 million in dividends to its Australian parent in the year ended June 30, and paid another $10 million in September, financial statements lodged with the Companies Office show. The second return largely drained the Kiwi media group's coffers - cash and equivalents had been almost $11 million at balance date. The comp...