Newshub closing at end of June. Wow.
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What??? So no News on Three or a relaunch of 3News?
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No.
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WTF!!!
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Absolutely disgraceful news.
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Wow… So no news on Three at all? Are there no content regulations in NZ?
Edit: from article:
The company will look to co-fund local news but Three was now the “core” of the future business.
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Wow just wow, I can’t believe they’re pulling the plug.
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I don’t know who they’d co-fund news with. RNZ has pulled back on its video stuff…can’t see anyone stepping up.
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Nope.
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The lack of regulation in New Zealand media and broadcasting is truly disgraceful.
I feel bad for not watching Newshub enough now, despite my frustration with their political reporting…
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From Stuff
Newshub staff have been told the NZ news service will be closing at the end of June.
Stuff understands a staff meeting was called on Wednesday morning by Warner Bros Discovery, the parent company which owns Three and Newshub.
Staff in Auckland had been asked to attend in person, while others have had the option to dial in or use Zoom.
In a statement, Warner Bros. Discovery announced they would start discussions on a proposed remodelling and restructure of its ANZ free-to-air business in New Zealand from Wednesday.
“We are acutely aware of our position in the local media landscape and what this means for our people, and for the country as a whole," the statement read.
“There was no single trigger that caused this, rather it was a combination of negative events in New Zealand and globally. The impacts of the economic downturn have been severe, and the bounce back has not materialised as expected.
“Advertising revenue in New Zealand has disappeared far more quickly than our ability to manage this reduction, and to drive the business to profitability.
“Everyone can see that the media sector, here in New Zealand, and around the world is facing some very tough circumstances. While Warner Bros. Discovery is a large global media company, each business is managed on its ability to sustain itself within the market it operates in. Subsidising losses for ongoing years indefinitely is not sustainable.
“The proposal is a result of a review of our New Zealand business, and while we didn’t come to it easily, it is one that we believe would be financially sustainable for the long-term.
“It is the people that make this company the beloved part of the New Zealand landscape. This consultation process is not easy, and we will be doing everything we can to support our teams.”
The proposed new model that we are consulting on reflects the ambition to transition the operations to a digitally led business. If implemented as proposed, ThreeNow would be at the core of the model, supported by free-to-air linear channels.“It is proposed that ThreeNow and Three’s offering would feature local programming in conjunction with funding partners, acquisitions across drama, comedy, sport, reality and factual, and key titles from Warner Bros. Discovery’s extensive library. Bravo, Eden, Rush and HGTV would continue in their current form with the same content slate.”
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It is - although I think that barrier to entry would simply not work now.
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Warner Bros. senior VP says says staff have “done everything we could have asked”
Glen Kyne, seinor vice president and head of networks at Warner Bros. Discovery, says this is a hard day for staff across the country.
“Everybody who works for Warner Bros. Discovery ANZ has done everything we could have asked. This proposal is not a reflection of these efforts," Kyne said in a statement.
“Every time we think we’ve landed on stable footing, something comes along and makes it unstable again, forcing us to look at ways of further reducing costs. We’ve now reached a stage where any further reduction in costs means proposing major changes. This is why we are proposing to shut down the newsroom. This would mean stopping all news production including the Newshub website from June 30.
“If implemented, the proposal would be a significant change to our New Zealand operations. Warner Bros. Discovery would be committed to retaining a local presence, albeit with a much smaller operating model and lower cost base.
“We know that Newshub has been such an important and central part of TV3 since day one, and is a crucial part of a functioning media sector in New Zealand.
“We also know that New Zealanders have come to love our local shows, from Dancing with the Stars, to The Block NZ, to Black Coast Vanishings.
“Free-to-air and news are expensive businesses to run. Put simply, the economic headwinds means the returns are not there. These proposed changes will be hard if they are implemented, but we think they are necessary, which is why we have commenced consultation."
The consultation process will run until mid-March, with a final decision expected early April.
If this proposed model went ahead, the changes would not take effect until after 30 June 2024.
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So will there be any news on Three? I’m assuming news updates or something?
This is bloody terrible for New Zealand Media.
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nothing. gone. nada
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holy shit
this is awful news, thoughts go out to the Newshub staff….
now I hate WBD management more
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TV3’s marketing has been terrible. Should never have persisted with the ‘Newshub’ brand. There was nothing wrong with ‘Three News’.
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Newshub was a great idea for a unified brand…when they still had the radio stations. Ever since they split off from those, the name’s been more than a little unwieldy.
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