The bosses of media companies are today revealing to Government the impact of coronavirus on their businesses. Yesterday NZME, which owns the Herald and Newstalk ZB, announced it was making 200 positions redundant and asking higher-paid staff to take a 15 percent pay cut for 12 weeks. The committee will also hear from academic and former New Zealand Herald editor Gavin Ellis, as well as Broadcasting, Communications and Digital Media Minister Kris Faafoi. Ardern said yesterday that the Covid crisis showed the need for "robust" journalism in a media landscape that was dealing with plummeting advertising revenue. NZME had previously been seeking Government support to buy Stuff, with previous attempts being shot down by the Commerce Commission.

Source: Otago Daily Times April 14, 2020 22:07 UTC