Billionaire Bruce Gordon's WIN Corporation is shutting four of its regional newsrooms.
Journalists and camera operatiors in Orange, Wagga Wagga, Albury and Bundaberg were told their jobs would end on Friday next week.
A letter to staff says the decision was based on the commercial viability of funding news in these areas.
Advertising revenue has been falling in some regional areas.
WIN said in a statement: "Changing content consumption habits and increased competition from digital content providers, that don’t face the same regulatory conditions that challenge traditional media, has led to a reduction in demand for local news bulletins in these regions."
Annabelle Amos, a senior journalist at Win in Orange, tweeted: "Tonight, the camera operators, editors, and journalists from 4 WIN newsrooms were told that they wouldn’t have a job to return to from next Friday 28th. It’s a sad day for regional news, but we WILL push on and go out with a bang."
Another journalist, Alison dance, said: "A devastating blow for Regional Australia, WIN News closing 4 regional newsrooms. Still working out my next steps ... "
WIN Television is a privately-owned regional television network broadcasting across six states.
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