Broadcaster MediaWorks announced today it will sell its TV arm, Three, stating it needs to focus on its profitable businesses.
Photo: Newshub screenshot
The decision comes after several cutbacks have been made at the media company.
Earlier this week, MediaWorks said it was cutting key local TV comedies citing the company's deepening problems and wider troubles in free-to-air television.
Last year, 14 years after launching "the new voice of talk radio", Radio Live was silenced.
NBR reported in May 2018 MediaWorks has periodically been in breach of its banking covenants in the previous two years.
The news has garnered a mixed bag of reactions from media personalities and TV Three consumers alike.