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While other media attempt to survive by pursuing a “digital first” strategy, New Zealand’s state-owned, commercially-funded broadcaster Television New Zealand—better known as TVNZ—has told staff it intends to close its flagship online news site 1News.co.nz and discontinue its news app in an effort to find $30 million (US$18.5 million) in savings.
Earlier this year, it cancelled much of its news and current affairs output, including its midday and late-night bulletins, the consumer affairs show “Fair Go,” and its investigative programme “Sunday.”
In the financial year to March, the broadcaster reported a loss of $85 million, driven by a $62 million write-down in asset values and a drop in revenue of $39 million. The previous year, it announced a profit of $1.7 million….