Newshub, one of New Zealand's two biggest media newsgathering organisations, will shut down in three months, on July 5.
Nearly 300 workers will be made redundant, as the curtain falls on the outlet's 35 years of covering news for New Zealanders.
It is the equivalent of 9News or Seven shutting down news operations in Australia.
Staff were told the July closing date at a meeting in Auckland today, with employees from the Wellington and Christchurch newsrooms watching on video link, according to Newshub, which is having to report on its own closure.
US company Warner Bros. Discovery owns Newshub, which changed its name from 3 News in 2016.
TV3 broadcast its first 6pm bulletin in 1989, forever changing the news landscape in New Zealand.
Until then, Kiwi viewers only had a single broadcaster covering their news.
Warner Bros. Discovery delivered Newshub staff a knockout blow in February when it announced it was going to shutter the entire news division.
Around 200 journalists, producers, editors, camera operators and associated production staff will lose their jobs come July.
Dozens of other workers will also be made redundant and forced to job hunt in a radically diminished media market in New Zealand.
The demise of Newshub leaves state-owned TVNZ with a near-monopoly on TV news.
Days after the announcement in February Newshub would be closing, TVNZ made its own cull of its news division, cutting almost 70 jobs.
Politicians have expressed concern that democracy is bound to suffer in the country.
