New Zealand's biggest newsstand magazines have folded, as Bauer Media NZ abruptly closed its doors permanently as a result of the Covid-19 crisis.

The New Zealand wing of the German-owned company publishes a range of New Zealand magazines including Woman's Day, New Zealand Woman's Weekly, The Australian Women's Weekly, the Listener, North & South, Next, Metro, Kia Ora, Home NZ and Your Home & Garden.

The closure brings to an end many decades of publishing in New Zealand, with about 300 staff out of jobs.

Prime Minister Jacinda Ardern said she was "gutted" to see Bauer media close its doors.

But she said the company refused the wage subsidy.

ZB chief political reporter Alex Mason joined Andrew Dickens to discuss what impact the virus is having on the media industry.