MediaWorks has shut down its news radio station Today FM after eight hours of staff consultation, with a new station launching on the same frequency in April.
Shortly after 5pm, an announcer on the station's frequency said some services would continue to be broadcast on the frequency until a new station launched.
"This station is no longer Today FM. Black Caps Radio will still be on this frequency with live cricket coverage of the New Zealand vs Sri Lanka one day and 20-20 series.
"The next live game will be the third ODI starting at 2pm tomorrow. REX Rural Exchange will still play on this frequency at usual times for now, and then in April, a new station will be launching on this frequency."
Earlier this morning, Today FM's high-profile hosts Duncan Garner and Tova O'Brien revealed the news to their listeners, saying they had been "betrayed" and "f****d" by MediaWorks management.
It's the latest in a series of media job cuts and there are warnings other industries will follow.
The radio station's end comes only one year and 10 days after its launch.
In a post on its Facebook page just before 5pm, a final message written by the station's "head of digital" was jointly signed by many of the station's highest-profile personalities.
Shortly after it was published, the post was deleted alongside Today FM's Facebook page while the station's Twitter profile was locked after it posted the same message.
"As I type this, David, Duncan Garners producer is crying in my arms as the harsh reality of cold corporate decisions set in," the post read.
"Like David, many of our team feel like they have failed you. But, I can confidently say that they have done something like no one else has in the media space.
"We were robbed. You were robbed.
"I wanted to let you all know that every single person here, whose eyes are red and sore, only wanted to do the best they could.
"Love us or hate us, we fought for you and your stories.
"Thank you all for your kind comments and shared grief in what we beileive has been a significant short sighted decision by MediaWorks. From Rachel, Tova, Duncan, Leah & Mark, Lloyd, Polly, and everyone else at Today FM - thank you."
In a statement, MediaWorks interim chief executive Wendy Palmer blamed the station's demise on cost-cutting measures with lower advertising revenues.
Palmer said it was a "difficult decision" for the company's board to take Today FM off-air. She said MediaWorks would "explore options for a digital content offering".
"From Ardern to Zelensky, we've kept Kiwis informed with the very best of news and current affairs and we're grateful to everyone who tuned in," she said.
"This is a hard day for this talented team who put everything into building a new talk platform in Aotearoa. They've worked tremendously hard and we're incredibly proud of the work they have done.
"We'll be working with the team to identify other opportunities within MediaWorks where possible and to support them in their next steps."
They have f****d us - host announces station's demise
The news of the station's demise was earlier revealed on-air by high-profile hosts Duncan Garner and Tova O'Brien, who slammed MediaWorks management.
"We've been on the air for a year; we were told we had the support of everyone, from the chief executive through to the board, through to the executive," O'Brien said.
"And they have f***** us. We're all gonna lose our jobs, and the station is gonna go off the air."
Garner said: "This is betrayal."
He described the scene, saying employees were in a bad way, crying and "shell-shocked".
Today FM's news programming was taken off the air shortly after and replaced by music.
The radio and outdoor advertising company ploughed millions into the venture to take on NZME's Newstalk ZB.
Last year, MediaWorks chief executive Cam Wallace said there had been a multi-year plan for the brand while it still fell far short of ZB's dominant ratings position.
Wallace, alongside talk head Dallas Gurney, have both since left MediaWorks, with the company coming under increasing financial pressure as advertising revenue dries up amid a turbulent economy.
In her statement announcing the station's demise, current chief executive Wendy Palmer said the company's board had directed management to "identify further areas of potential cost saving to reshape the business for the market conditions".
"MediaWorks, like the whole advertising sector in New Zealand and internationally, continues to be impacted by an environment with lower revenues and higher costs.
"At the request of the MediaWorks board we have undertaken a review of the entire business to identify further areas of potential cost saving and to reshape the business for the market conditions," she said.
Shellshocked staff could be seen leaving MediaWorks' building in Ponsonby and heading towards a pub earlier today.
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