Bill Ralston: media commentator on the unexpected shutdown of Newshub

from Best of Business · host Newstalk ZB

Uncertainty over the future for hundreds of Newshub workers, following the shock announcement its newsroom will close. Warner Brothers Discovery executives told staff today they're shutting the newsroom and website, from the end of June. The former-Mediaworks news company says it's battled financial headwinds and plans to focus on streaming service, ThreeNow, not news. Media commentator Bill Ralston is predicting he expects more media failures over the next six months. "Once you start chewing into losses of $100 million, and then more, and then more on top of it- it becomes unstoppable." Ralston expects some who've lost jobs will head overseas. LISTEN ABOVESee omnystudio.com/listener for privacy information.

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