Hundreds of journalists and other media workers are contemplating their futures following the announcement Australia's AAP Newswire will close after 85 years in business.
The growth in free online content is being blamed for the decision, which has been described as a blow to democracy.
'The wire has supplied news to regional, national and global newspapers, broadcast outlets and digital editions in various forms since 1935.
It will cease newsgathering and production operations at its bureaux around the country and in London as well as at company headquarters at Rhodes in Sydney on June 26.
About 180 jobs will be lost from AAP's editorial arm and hundreds more from subsidiaries.
Federal parliament acknowledged Tuesday's announcement, delivered to staff by chief executive Bruce Davidson and AAP chairman Campbell Reid.
"You will leave a massive void in terms of information coverage," Opposition Leader Anthony Albanese told the chamber after naming each of the press gallery's AAP journalists.
"Democracy should not be taken for granted ... the Australian public will be less informed as a result of the decision today which is a great tragedy."
Labor MPs held up signs which read "thank you AAP" as Prime Minister Scott Morrison acknowledged the newswire's "proud history here in the Australian parliament".
Australian Associated Press' Pagemasters editorial production service - employing hundreds of people - will also close at the end of August.
AAP is owned by Nine, News Corp Australia, The West Australian and Australian Community Media.
Editor-in-Chief Tony Gillies paid tribute to his team, describing them as "the most humble and hardest working news people".
"We have had a place like no other in journalism. We exist for the public's interest and I now fear for the void left by the absence of AAP's strong, well-considered voice," he said.
The Media, Entertainment and Arts Alliance described the closure as "a gross abandonment of responsibility by shareholders".
"Bean counters at the top of media organisations might think they can soldier on without AAP but the reality is it will leave a huge hole in news coverage," union president Marcus Strom said.
The Alliance blamed the federal government's failure to effectively deal with digital content aggregators, search engines and social media, which has made news readily available for free online.