This from general discussion on a well known New Zealand website. It is similar to other rumours making the rounds, but seems to have the ring of truth to it.

It seems that there may be some serious problems going on at Newshub. A good mate of mine goes to the same gym as Cam Wallace and overheard him talking to one of his employees about a major re-structuring going on.

Yep, it seems that even all the millions that they got from the government covid relief fund from their two payouts hasn’t been enough to carry them through the aftermath of the whole covid debacle.

So apparently there may be some big job losses, and particularly in the newsroom. He was talking about up to 20-30% cuts apparently! He didn’t get any actual names of those first in the firing line unfortunately, which would have been very interesting.

However, IIRC, Cam Wallace does not control Newshub, (IIRC Mediaworks sold the digital broadcaster and news outlet to US based Discovery corporation a few months ago) so he must have been having a conversation about that company.

It is always sad to see anyone lose their job. However its a rule of commerce that companies should not remain afloat if they cannot make a profit. The issue here really is that NZ media has politicised itself, and thereby catered to a limited market sector while inexplicably doing its best to annoy anyone outside that sector. That is a business model with an obviously limited life.

The obvious question is this- When the broadcast media in NZ is dominated by the far left govt owned outlets TV One and Radio NZ, why does the private sector media try to compete in the same left wing market? One would think anyone with a modicum of business acumen would try and emulate Rupert Murdoch’s success in Australia, by catering to the non-left sector.

However it seems that here in “Aotearoa” as the media likes to call it, Marxist ideology rules the business roost today, even when the most frequently observed truism in the commercial sector seems to be “go woke go broke!”.