One of New Zealand’s two major free-to-air TV networks has gutted its newsroom, putting more than 200 people out of work after years of losses and continued structural decline in TV advertising.

In a decision that has profound implications for the wider TV market, including in Australia, Newshub, which is owned by $US21 billion ($33 billion) US media conglomerate Warner Bros Discovery, will slim down at the expense of hundreds of jobs by June.