UPDATED 9.27PM One of TV3's biggest and most popular stars, newsreader Hilary Barry, has quit the network.

Her departure is the second high-profile casualty at TV3 in the past year after John Campbell left in May when his show Campbell Live was dumped.

Barry, who has been with the company since 1993, resigned on Thursday.

There is speculation she is headed to rival TVNZ, but TVNZ spokeswoman Georgie Hills would not comment on whether Ms Barry would join the state TV broadcaster.

In a statement, Barry said: "I have had a wonderful and varied career at MediaWorks and am very grateful for the opportunity to have worked with some incredibly talented people over the years who have been both mentors and friends.

“For now though, I am very much looking forward to recharging my batteries and spending more time with my family. I want to thank MediaWorks, my colleagues and the viewers and listeners. I know that the team will continue to deliver a world class news service across digital, TV and radio."

The shock move is the latest drama to rock TV3's news and current affairs department in the last 18 months. It is understood Barry's departure has caused turmoil at the broadcaster, which has merged its television and radio newsrooms.

Barry is a lynchpin at both ends of the day for the company. She is immensely popular among MediaWorks staff and the public, and her colleagues are said to be devastated she is leaving.

A TV3 spokeswoman confirmed tonight that Barry had resigned.

Barry, 46, as not been on air for some days. 

It is understood Barry has been dissatisfied with the network's direction for some time.

One source told the Weekend Herald that if Barry did join arch-enemy TVNZ, where she is believed to be in talks, it would be a "double whammy" for rival TV3. 

Barry presented 3 News on weekends for six years, before fronting the flagship weeknight news programme.

She recently celebrated her 11th TV3 news anniversary alongside NewsHub co-presenter Mike McRoberts.