New Zealand news outlet Newshub, which is set to shut down due to economic woes, has been thrown a lifeline by local media organisation Stuff that will save its bulletins and website, in new formats.

Last week, Warner Bros Discovery confirmed it would close down its New Zealand newsroom, Newshub, including its website, the morning television show and the 6pm news bulletin, resulting in the loss of roughly 300 jobs and prompting alarm over the state of New Zealand’s media industry. The same day, state-owned television network TVNZ announced its own set of programme cuts and job losses.

On Tuesday, New Zealand news website Stuff confirmed it had hashed out a deal with Warner Bros Discovery to produce its daily bulletins and will take over the Newshub website. Newshub’s newsroom will still close but some staff who were made redundant could move to Stuff to work on the new bulletins.

In a joint statement, the two companies said the new Stuff-made 6pm news bulletin will begin on 6 July, after the final Newshub bulletin a day earlier. An hour-long bulletin will broadcast on Mondays to Fridays and the weekend bulletin will be 30 minutes.

In the statement, Stuff’s owner and publisher, Sinead Boucher said her company’s proposal to Warner Bros Discovery was to “deliver high-quality news now and a news product for the future”.

“We will look to innovate not replicate the 6 o’clock news, building on our expertise in digital audiences and engagement and our ability to deliver live and lively news 24/7 all over Aotearoa.”

In an email to staff, Boucher said Stuff would take over the Newshub website and the bulletins would not be broadcast on, RNZ reported.

Last week, Warner Bros Discovery said it was closing down Newshub due to strong economic headwinds and a significant drop in advertising revenue.

The announcement was later followed by news of job losses at TVNZ, triggering questions over the health of the country’s shrinking news landscape, and fears democracy could be undermined.

“We were deeply aware of the dampening effect the Newshub closure would have on media plurality and we’re very pleased that New Zealanders will be able to have a choice about what news they watch at 6pm,” Warner Bros Discovery’s Glen Kyne said said.

Kyne said Warner Bros Discovery had received a number of proposals but the company saw “clear editorial and cultural alignment between Stuff and Newshub”.

The Guardian has contacted media and communications minister Melissa Lee for comment.

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