Episode description
Summary
"To axe the whole news division, that's huge and I'm really deeply shocked by it" - Mark Jennings
In a devastating blow to New Zealand's media landscape, Newshub appears set to shut down by the end of June.
The response from politicians has been varied, and while some are looking for solutions in the industry it seems too late to rescue the company from financial ruin.
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Hundreds of staff - journalists, camera operators, editors, producers - learned of the proposal to axe the entire news division and other local productions not supported by co-funding at an emergency meeting on Wednesday.
Warner Brothers Discovery is blaming a collapse in advertising revenue and changes in viewing habits, having made a loss of just under $35m in New Zealand in the 2022 financial year.
The announcement caused a tidal wave of shock and devastation across the wider media sector. Newshub's newsroom is known for an energetic, agenda-setting and often provocative approach that will leave a massive hole in New Zealand's media landscape.
The closure also means a lack of direct competition for the state-owned but commercially run television news broadcaster TVNZ, which is facing problems of its own.
Read more:
Warner Bros 'baffled' after TVNZ rejected Newshub proposal of shared news operation
TVNZ's total revenue falls 13.5 percent as ad revenue shrinks
Can Newshub really be saved?
Newshub journalist Michael Morrah says proposal will be made to save axed news operation
Newshub's pain not necessarily TVNZ's gain - advertising expert
Seymour plays down TVNZ dividend comments
Government intervention to save Newshub 'highly unlikely'
Focus has quickly shifted to whether Newshub can be saved. Its investigations correspondent Michael Morrah says staff plan to make a proposal to keep the newsroom operating.
As for government intervention, however, Broadcasting Minister Melissa Lee is adamant there was nothing she could do. She told reporters a lack of competition was not a concern because the media had shifted away from specific platforms like television, and that the company never reached out for assistance.
"It is actually a structural issue, it's a company that actually felt that their business model isn't actually working," she said. …