Schultz completed her school education at St Peters Lutheran College in Brisbane and went on to gain a Bachelor of Arts in journalism at the University of Queensland, graduating in 1976.
Schultz later completed a PhD at the University of Sydney in 1996, in which she explored the contemporary relevance of the fourth estate to the practice of journalism in Australia.
Schultz began her career as a researcher and producer in radio with the ABC in Brisbane and in 1977 moved to The Australian Financial Review in Melbourne as a reporter.
After working as a journalist in London, she became a producer for ABC TV on Four Corners in Sydney in 1981 and was appointed as lecturer in journalism at the NSW Institute of Technology (later UTS) the following year.
She has been a director of Strategies & Solutions Group Pty Ltd, and undertook many consulting projects focusing on media, digital futures and culture.
[3] The film adaptation of Black River, (directed by Kevin Lucas) won the Opera Screen Grand Prix at Opéra Bastille, Paris[4] in 1993.
Schultz was appointed as co-chair with actress Cate Blanchett of the Creative Australia Stream for the 2020 Summit at Parliament House, Canberra, in 2008.