One of New Zealand's largest media companies announces shutdown

The closure of Newshub has been announced by Warner Bros. Discovery, leaving staff 'devastated and uncertain about the future.'

One of New Zealand's largest media companies announces shutdown
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In a morning meeting, employees of Newshub, one of New Zealand's prominent media outlets, received news of the company's imminent closure by the end of June.

Speculation had been rife regarding a significant announcement that could potentially alter the company's trajectory. Warner Bros. Discovery, the parent company overseeing both Three and Newshub, summoned Auckland-based employees for an in-person meeting while others joined remotely.

The closure entails shutting down all TV and online news platforms operated by Newshub. Journalist Perry Wilton described the atmosphere post-announcement as "pretty grim," emphasising the team's determination to navigate the situation collectively.

Similarly, Wellington bureau chief Caitlin Cherry expressed sadness on LinkedIn.

Warner Bros. Discovery outlined plans for a comprehensive restructuring of its free-to-air business in New Zealand, citing the necessity to adapt to evolving market dynamics.

The proposal includes ceasing multiplatform news operations and collaborating with local funding bodies for future programming. According to James Gibbons, Warner Bros. Discovery Asia Pacific president, the decision was the result of a thorough review of the company's New Zealand operations, acknowledging the 'challenging economic landscape.'

The consultation process is slated to conclude in mid-March, with a final decision anticipated in early April after careful consideration of feedback.

The closure of Newshub marks another significant upheaval in New Zealand's media landscape, following recent adjustments to news and current affairs programming as audiences have abandoned NZ's increasingly 'woke' media companies.

Last year saw the discontinuation of several shows, including the AM Early show, the 11.30am Newshub bulletin, and the 8pm news bulletin on Warner Bros. Discovery's Eden channel.

The Project, NZ, also was axed after a six-year run.

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