Fairfax Media New Zealand has confirmed staff are likely to face job losses as the company reviews its business.
Sources say income from advertising has plummeted and while online readership is strong, it is not producing revenue.
Fairfax Media owns publications throughout the country including the Dominion Post, the Sunday Star Times, the Stuff website and magazines.
Acting general manager Andrew Boyle says there are potential job cuts across the entire company, from advertising to editorial.
Mr Boyle says the company has been prudent in managing vacancies by not replacing some staff who have left since November last year.
He says management is planning to close its Dunedin community newspaper and has begun discussions with those staff members.
Mr Boyle says subscriptions for its online news services will be a part of the company's future.
Fairfax will formally propose changes to staff in the next two months, he says.