The COVID-19 pandemic has forced the closure of Bauer Media, bringing an end to decades of media.
Bauer Media publishes multiple popular Kiwi magazines including NZ Listener, Woman’s Day, Metro, New Zealand Woman’s Weekly, North and South and Next.
Australia and New Zealand Bauer chief executive officer Brendon Hill announced on Thursday Bauer has no choice but to shut up shop.
“This is a devastating blow for our committed and talented team who have worked tirelessly to inform and entertain New Zealanders, through some of the country’s best-loved and most-read magazines," said Hill.
All New Zealand staff were told on Thursday morning the business is no longer viable and that it intends to close.
Funding will be provided to enable all staff to be paid their full redundancy and leave entitlements.
The COVID-19 pandemic has caused advertising revenue to dry up, signalling difficult times for media in New Zealand as a whole.
NZME recently advised it's staff they could expect redundancies, and Mediaworks has asked all its TV, radio and digital staff to take a voluntary 15 percent pay cut to keep the business afloat.
"This is a very difficult time for the entire media industry," said Hill.