Discovery NZ slumps to $34m loss in 2021

The Newshub Live at 6 studio. (Image: Getty)

Thu, 30 Jun 2022

Discovery New Zealand Limited, the owner of Three and Newshub, fell to a $34 million loss in 2021, according to newly-filed accounts.The broadcaster, part of US giant Warner Bros. Discovery, recorded the heavy loss after racking up a larger wage bill and paying an $8.2m service fee to its parent company, the accounts show. Discovery NZ made a $10.2m profit in 2020.The media group earned $141.4m in revenue in the year to Dec 31 2021, up from $129m in 2021. But a $13m increase in employee remuneration and benefits, and the multimillion-dollar pay...

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