If you thought Network Ten had cut most of its functional newsroom operations, news of the American-owned TV company's latest savings will come as a surprise.

Director of news content Ross Dagan announced weekday news bulletins will now be broadcast only from Sydney and Melbourne, although reporters will be retained in Brisbane, Adelaide and Perth.

The real savings - necessary due to "the state of the media industry" - are likely to come from cuts to the talent roster, with Kerri-Anne Kennerley, Natarsha Belling and Tim Bailey among higher-profile names at the sharp end.

In April federal communications minister Paul Fletcher announced the suspension until the end of this year of local content quotas on FTA and subscription TV, mostly affecting drama, children's and documentary content.