The Finance Minister says there is no plan to "save" major media outlets in their current form.

Newshub staff have been summoned to a meeting today about an "important business update", after learning last week that the news service will close with the loss of 300 jobs.

TVNZ has also announced significant cuts including the end of its Fair Go and Sunday programmes.

Nicola Willis told Mike Hosking that while Media Minister Melissa Lee is looking into the issue, she isn't working on a salvation plan.

She says the Government isn't going to come in on a white horse and rescue the media industry.

Willis says the challenges facing the media industry go right to the digitisation of the way people are receiving news.

LISTEN ABOVE

The Finance Minister says there is no plan to "save" major media outlets in their current form. 
Newshub staff have been summoned to a meeting today about an "important business update", after learning last week that the news service will close with the loss of 300 jobs. 
TVNZ has also announced significant cuts including the end of its Fair Go and Sunday programmes. 
Nicola Willis told Mike Hosking that while Media Minister Melissa Lee is looking into the issue, she isn't working on a salvation plan. 
She says the Government isn't going to come in on a white horse and rescue the media industry. 
Willis says the challenges facing the media industry go right to the digitisation of the way people are receiving news. 
LISTEN ABOVE

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

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