Warner Bros Discovery is insisting little impact to its Australian team even as 300 jobs are slashed from its New Zealand division under a remodelling of its ANZ free-to-air business.

The job losses in New Zealand come after the media giant decided to close the in-house production of the 6pm News service (Newshub) and its the breakfast show (AM) in New Zealand. The final bulletin will air on Friday 5 July.

Yet as job cuts also run rampant across the Australian media landscape, Warner Bros. Discovery's told Mi3 restructure will have little impact on Australian business, with two redundancies planned locally.

"After going through our proposed restructure and confirming the new operating model, WBD ANZ networks lost two roles in its Australian office," a Warner Bros Discovery ANZ spokesperson stated.

Closure of all of Newshub’s multiplatform news operations and output was first announced in February. The new structure centres the business model around ThreeNow, the free ad-supported streaming service offered by Warner Bros in the New Zealand market. The service will be supported by free-to-air linear channels, including Three.

According to the original proposal, these offerings would feature local programming in conjunction with funding partners, acquisitions across drama, comedy, sport, reality and factual, and key titles from Warner Bros. Discovery’s library. Bravo, Eden, Rush and HGTV would continue in their current form with the same content slate. “We are acutely aware of our position in the local media landscape and what this means for our people, and for the country as a whole," said President, Asia Pacific, Warner Bros. Discovery, James Gibbons. "There was no single trigger that caused this, rather it was a combination of negative events in New Zealand and globally. The impacts of the economic downturn have been severe, and the bounce back has not materialised as expected."

Gibbons attributed the cull across the Tasman to sharp declines in advertising revenue, which "disappeared far more quickly than our ability to manage this reduction, and to drive the business to profitability".

“Everyone can see that the media sector, here in New Zealand, and around the world is facing some very tough circumstances. While Warner Bros. Discovery is a large global media company, each business is managed on its ability to sustain itself within the market it operates in. Subsidising losses for ongoing years indefinitely is not sustainable," he continued.

Senior Vice President, Head of Networks, Warner Bros. Discovery ANZ, Glen Kyne said it had reached the point where further cost reductions were inevitable.

“Every time we think we’ve landed on stable footing, something comes along and makes it unstable again, forcing us to look at ways of further reducing costs. We’ve now reached a stage where any further reduction in costs means proposing major changes. This is why we are proposing to shut down the newsroom," he said.