New Zealand Press Association to close this week
The New Zealand Press Association is due to close on Wednesday after 132 years, it has been revealed.
It has been said that the reason for the news agency closing is because two Australian media empires bought up most of the newspapers in New Zealand, and since the papers in each chain share the stories with each other there is no need for an external news provider.
In April one of the two large newspaper groups, Fairfax Media, decided to end its business relationship with the New Zealand Press Association. The executive editor of Fairfax told the Guardian that little would be lost from the closure of the agency.
Both Fairfax and rival APN are adding more staff to deal with the closure of the agency, and last week APN started its own news service with 17 employees.