Wellington — One among New Zealand’s two free-to-air tv networks stated on Wednesday it was proposing to shut its newsroom operations, tv information broadcasts and web site from June 30, with the lack of as much as 200 media jobs.
Warner Bros. Discovery, which owns the information service Newshub that airs on tv channel Three, stated in a press release it wanted to additional scale back prices and that meant main adjustments together with the deliberate shut down of the newsroom.
CNN can be owned by Warner Bros. Discovery.
Beneath New Zealand legislation, a proposed restructure or redundancies have to be consulted on earlier than a ultimate determination will be introduced. A ultimate determination is anticipated in early April.
If applied, the closure will finish 35-years of broadcast information on the community Three and can depart state-owned however editorially impartial TVNZ because the dominant producer of broadcast information for the New Zealand market.
“Free-to-air and information are costly companies to run. Put merely, the financial headwinds means the returns usually are not there,” stated Glen Kyne, a senior vice chairman, at Warner Bros. Discovery in Australia and New Zealand.
He added that he knew that Newshub was a “essential a part of a functioning media sector in New Zealand.”
“These proposed adjustments might be laborious if they’re applied, however we predict they’re crucial,” Kyne stated.
Newshub stated on its web site that 200 journalists, producers, editors, digital camera operators and related workers may lose their jobs.
Warner Bros. Discovery reportedly stated it plans to proceed working digital platform ThreeNow and community channel Three and these would present programming from the community’s in depth library and native programming the place funding might be obtained.