The channel currently broadcasts nationally (with regional advertising targeting four markets) in digital free-to-air form via the state-owned Kordia on terrestrial and satellite.

Applications to apply for warrants to operate New Zealand's third national television network opened in early 1985 and closed on 29 March 1985.

Litigation surrounded the granting of the warrant, as did the share market crash in October 1987, which wiped out a large proportion of the capital that TV3 required to establish the channel.

[6] TV3 began broadcasting on Sunday 26 November 1989 at 8:00 pm with Governor-General Paul Reeves officially launching the station.

This was followed by a two-hour special previewing the network's programmes, featuring comedians David McPhail and Jon Gadsby playing cameramen.

At launch, TV3 could be received by an estimated 55 percent of the population, in Auckland, Waikato, Western Bay of Plenty, Palmerston North, Wellington, Christchurch and Dunedin.

In December 1991, Canwest took a 20 percent shareholding in TV3 and secured a management agreement allowing it full control to operate the station.

The launch was considered successful, with high brand recognition and ratings significantly higher than MTV, TV4's television rival.

In June Canwest picked up the More FM Radio network, followed in November with the purchase of the remaining 32 percent of TV3.

In April 1998, Canwest announced that it had made Can$22 million in the six months to February 1998 in New Zealand, up a third on the same period the year before.

TV4 contributed positively to the result, with some of the increase due to the inclusion of More FM, while TV3 was continuing to experience strong revenue growth.

In September 1999, the Broadcasting Standards Authority (BSA) upheld a complaint over TV3's 20/20 story "Sex, Lies and Videotape" in June 1998.

The story received twelve complaints and was upheld on the grounds of privacy, viewpoints on controversial Issues, accuracy, fairness and responsible programming.

The BSA ordered TV3 to pay $100,000 in costs, to broadcast statements on-air regarding the upheld complaint, and the channel was banned from showing advertising between 6:00pm and 8:30pm on 10 October 1999.

The first programme to broadcast in true 1080i high definition (i.e. not upscaled) was that night's screening of Boston Legal.

Following the receivership TV3 and the radio stations owned by MediaWorks remained on air and all staff have retained their jobs.

[18] Shares in the company were gradually and completely bought out by US hedge fund Oaktree Capital Management.

[19] Since 3 July 2016, with the closure of sister channel Four, some of its programming, such as Sticky TV, moved over to TV3 in a new daytime lineup.

[24] In early September 2020, MediaWorks confirmed that it would be selling its television media assets, which include Three, to U.S.-based Discovery, Inc.[25][26][27] The acquisition was completed on 1 December 2020.

Discovery proposed eliminating Three's news service Newshub, effective 1 July 2024, citing declining advertising revenue.

[35] On 7 May, Stuff announced that seven former Newshub journalists including Samantha Hayes, Jenna Lynch, Laura Tupou, Ollie Ritchie, Juliet Speedy, Zane Small and Heather Keats would produce Stuff's 6pm news bulletin and other news content.

From mid-2013, TV3 secured a first option deal with Sony Pictures Television for new content for TV series and movies that will be scheduled for late 2013 and the 2014 season.

From launch in November 1989 until digital television transition was completed on 1 December 2013, TV3 broadcast terrestrially using the analogue PAL-B&G.

[43] ThreeNow (previously called TV3 On Demand and 3Now)[44][45] is a free ad-supported[46] New Zealand streaming platform owned by Warner Bros.

[48] The streaming service hosts content from Three and its sister channels Bravo, eden, Rush and HGTV.