Hideaki Fukutake from Still, an organisation made up of niche companies, collaborations and cultural projects nurtured in a singular ecosystem. Photo / Dean Purcell
Hideaki Fukutake from Still, an organisation made up of niche companies, collaborations and cultural projects nurtured in a singular ecosystem. Photo / Dean Purcell
Metro magazine has been bought by the Auckland-based investment firm Still.
Metro Media Group is the latest acquisition in Still’s mission to start or acquire 100 companies that are “fundamentally good” for New Zealand, the firm says.
Still is the family-owned investment firm founded and run from Auckland’s waterfront byHideaki Fukutake.
It owns Kings Plant Barn and last year purchased the World of Wearable Art event. In March its energy division, Shape Group, acquired 100 per cent of back-up power company Dependable Power.
It also owns Queenstown’s Hulbert House, design agency DDMMYY and Consult Recruitment.
“Metro is an important cultural icon in New Zealand, and I’m excited to be able to protect and develop this cultural gem for generations to come,” Still chief executive Fukutake said.
Metro covers from the 1980s and 1990s.
“Metro has made a significant cultural offering to Auckland and New Zealand since 1981, which makes it special and enduring. I respect the work of the team and look forward to seeing the magazine grow its cultural reach in Auckland and around New Zealand.”
Still has an ambitious aim of acquiring 100 businesses in the next decade and running them with a focus on the next 100 years.
It is an investment group with an unconventional approach - prioritising cultural connection and stability over short-term profit.
Fukutake’s grandfather Tetsuhiko and father Soichiro founded and oversaw the growth of the Japanese corporate Benesse corporation into one of the world’s largest educational service providers - at one point owning the Berlitz language schools.
Soichiro Fukutake, a billionaire (on the Forbes rich-list Japanese top 50), took up residence in New Zealand in 2009, drawn here initially by his passion for sailing and flying.
Hideaki Fukutake followed shortly after with his young family and he has watched his children grow up here as Kiwi kids. Now Auckland-based, his father’s retirement sees him managing the family investments.
Metro will continue to be made and published by the same people and in the same format as it has been since it was acquired by Metro Media Group from Bauer Media in 2020.
“Still gives Metro the best opportunity possible to not just survive but to continue to thrive,” said Metro editor Henry Oliver.
Metro was previously owned by Simon Chesterman, who purchased the title in the aftermath of Bauer Media Group’s shock exit from New Zealand in 2020.
Metro has been a feature of the Auckland publishing scene since it was founded in 1981.
