New Zealand’s oldest news agency is set to close after 132 years in business because it cannot keep up with changing technology media ownership. The institution which has helped shape the identity of the country was bought by two Australian media empires. The editor of the agency, Kevin Norquay, said that the model began to break down when newspapers consolidated and the internet came into greater use. The agency lost its clear role as stories became instantly available online. NZPA could not keep up with the quickly changing times and did not find ways to adapt to the current change of the media climate. Author and historian Ron Palenski, who worked for the agency for over a decade, said: “For it to be taken away by foreign ownership of two newspaper companies is very sad.” The fact that NZPA had to dissolve confirms the importance of keeping up with changing technology and making sure everyone is kept up to date for the survival of businesses and for the benefit of society as a whole.