Global General

NZ national news agency to close after 130 yrs

(Xinhua)
Updated: 2011-04-06 15:41

WELLINGTON - The New Zealand Press Association (NZPA) is to close down after more than 130 years.

The organization will wind up its operations within the next four to six months and 42 staff are set to lose their jobs, TV 3 reported on Wednesday.

The NZPA called a meeting at its Wellington headquarters on Wednesday afternoon to discuss the future of the media outlet.

For as long as newspapers have been rolling off the presses in New Zealand, NZPA has been providing content for newspapers and other news outlets throughout the country.

It was set up in 1879 and on the companies website it boasts of sending out a thousand pieces of information every 24 hours from stock exchange reports to news pieces to international news wires.

It has about 40 journalists and support staff, mostly based in Auckland and Wellington, as well as a small number of administration staff.

Media companies Fairfax and APN are major owners and it is reported that Fairfax is withdrawing.

It was reported that there will be a formal consultation period until the end of April before it is wound down over a period of four to six months.