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One of New Zealand’s two major free-to-air TV networks has gutted its newsroom, putting more than 200 people out of work after years of losses and continued structural decline in TV advertising.In a decision that has profound implications for the wider TV market, including in Australia, Newshub, which is owned by $US21 billion ($33 billion) US media conglomerate Warner Bros Discovery, will slim down at the expense of hundreds of jobs by June.The company blamed a poor advertising market and changing viewer habits for the decision. It leaves the state-owned – but advertising funded – TVNZ network as the sole remaining source of free TV news.
One of New Zealand’s two major free-to-air TV networks has gutted its newsroom, putting more than 200 people out of work after years of losses and continued structural decline in TV advertising.
In a decision that has profound implications for the wider TV market, including in Australia, Newshub, which is owned by $US21 billion ($33 billion) US media conglomerate Warner Bros Discovery, will slim down at the expense of hundreds of jobs by June.
The company blamed a poor advertising market and changing viewer habits for the decision. It leaves the state-owned – but advertising funded – TVNZ network as the sole remaining source of free TV news.
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