However, a Weekend Herald investigation can reveal that earlier this year MediaWorks, in an unusual move, secretly trimmed the length of the show's cornerstone sponsorship.
During a February meeting with Mazda, the show's principal sponsor since 2008, instead of a typical one-year extension MediaWorks opted to extend the deal for only three months.
The new deal is set to expire at the end of May, signalling perhaps a curtain call for a show that only recently celebrated its tenth year on air.
Bill Ralston, a former TVNZ head of current affairs, said the short-term deal was highly unusual and only made sense if a decision about the future of the show had already been made.
"A three-month deal makes no sense, unless they were - at the point at which they negotiated that three-month deal - considering getting rid of Campbell Live."
A MediaWorks spokeswoman rejected suggestions the show was being railroaded into an early end. "It would be completely incorrect to suggest the outcome of this review is predetermined."
Mr Ralston said longer-term sponsorships made more financial sense for broadcasters.
"If you're a cash-strapped TV channel like they are, you'd want that cash booked in for at least a year."