Today FM will remain off-air for the rest of today and staff have been seen leaving the MediaWorks building after the radio station was pulled off-air this morning.
Host Duncan Garner today revealed during his show the struggling station’s hosts had been asked to attend an all-staff meeting.
The station then abruptly abandoned its scheduled broadcasting.
Tova O’Brien’s line producer Tom Day said the MediaWorks board “have made a proposal to shut down” TodayFM.
Speaking to media outside after the meeting, he had had “better days” and that he was absolutely “gutted”.
”We received notifications that there would be a meeting at 12.15pm but it was brought forward. They told staff to start playing music.
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”Wendy Palmer (acting MediaWorks CEO) said at the meeting MediaWorks board had decided to shut down Today FM.”
The staff have been given until the end of today afternoon to make submissions towards the proposal, Day said.
”It is very little time. I am pretty gutted. We have a really good team who work hard.
”We will lose a news outlet and that’s bad.”
The meeting came as a bit of a shock but also wasn’t a surprise, Day said.
“We passionately believe we have done amazing work. We are frustrated the board doesn’t see that...it was a five-year plan but we have only been on-air for a year.”
Day said at this stage he was not informed whether or not he would come back tomorrow.
He said he will take his time to make submissions.
”The board’s decision will be made following the submissions. I believe the decision could come today.”
O’Brien, along with other TodayFM staff members were seen entering a local pub after news of the proposal.
Cheers and whistles filled the venue, while someone could be heard saying “let’s go nuts”.
In a recording of the all-staff meeting obtained by the Herald, acting MediaWorks CEO Wendy Palmer told workers they hit a “significant block in terms of revenue” late last year.
“When I came in 20-something days ago I had absolutely no thought or idea that I’d be standing here talking to you today about something to do with the state of the company, but I am,” Palmer began.
“Starting around Q4 last year we’ve hit a massive block in terms of revenue and it has been significant.
“Q1 we were down significantly on last year and our view of what April and May are looking like are also significantly down.”
Radio, which is 70 per cent of revenue, is down on 2019, digital is up about 40 per cent, but is a small portion of revenue.
Today FM costs are around $7.5 million, which includes half of the newsroom. Revenue this year for TodayFM is looking like it will be about $6 million-$6.5 million, Palmer said.
“Based on the financial position the company has found itself in... we are looking to retain people who are in digital. The decision around TodayFM that the board have come to is that we will close TodayFM”.
In an extraordinary few minutes of radio, Garner was joined on air by fellow host Tova O’Brien, who said the company had “f***ed us”: “We are all going to lose our jobs,” she said.
“We’ve been on-air for just a year, we were told we had the support of everyone from chief executive to the board to the executive.”
Garner said: “This is betrayal.”
He also told listeners: “Broadcasters here at Today FM have been called in to see the boss. We don’t know what’s going on. Tova’s asked for assurances that we are safe and hasn’t received them. Certainly some concerns in the background about the finances for the company overall.
“We were last on board you see as a station here. Could it be that we are first offloaded? I hope not. But that’s the axe hanging over us.
“It’s going to be a pretty difficult show but I am going to give it my best and be as honest as I can be with you. As news may or may not come through.”
The station has now abandoned its regular programming and is playing music instead.
Garner said: “We’ve been pulled off air right now.”
O’Brien, who joined Garner in studio, added: “Without even being given a chance.”
O’Brien told the host “it sounds like it’s over”.
A second tweet said: “Mediaworks said Today FM was a five year plan. They have completely lied.”
NZME chief executive Michael Boggs said despite NZME and MediaWorks being fierce competitors, the two companies also have a strong relationship, working together for the betterment of our industry.
“Our thoughts are with the Today FM team and those MediaWorks staff who are impacted by these changes.”
Today’s developments follow the departure of Today FM radio boss Dallas Gurney, who quit the fledgling network earlier this month.
Gurney, a former general manager of Newstalk ZB, was hired by MediaWorks to help launch Today FM just over a year ago, signing up hosts O’Brien and Garner, as well as Rachel Smalley, Pauline Gillespie and Leah Panapa.
Gurney will leave the company in May and so far no successor has been named.
Today FM has struggled to make any inroads in its first year into Newstalk ZB’s ratings.
Newstalk ZB’s overall cumulative audience in New Zealand is 691,900 while Today FM sits on 100,400.
MediaWorks put a brave face on the ratings in December, saying: “Today FM remains a long-term project for MediaWorks and there won’t be a full national picture until next year when the results are decoupled from Magic Talk.”
However, in several metropolitan areas, the Magic Talk number has already been decoupled from Today FM. In Auckland, the station has a weekly audience of 29,700 compared to Newstalk ZB’s 269,900.
MediaWorks CEO Cam Wallace has also left his role.
He announced in January that up to 90 jobs could be slashed at the company.
The event is described as a series of aggressive sales pitches.