Just replying from another thread.
I think the reason they are starting at 4 (same with TVNZ1) is because the early picture of some of the obvious states doesn’t make for great viewing. Coming on at 4pm gives them a more complete picture for analysis.
Although - they are going on 2016 timings, it depends how big the win is etc for who.
I remember in 2008, Obama was called for victory around 5 NZT and gave his victory speech around 6 (as they cut in with the opener mid speech).
In 2016, Trump didn’t speak until around 7:30-8. Newshub took it live as part of rolling coverage while TVNZ1 had already gone to MasterChef or something.