Winston Peters has this afternoon gone public with his knowledge of what was in the controversial tea tape - wading into a political storm.

Prime Minister John Key complained to police after his conversation with Act candidate John Banks in Epsom on Friday was recorded by a freelance cameraman.

Mr Key has since refused to discuss what was on the tape, and police today announced they'd be executing search warrants at four media outlets for any material they might have related to it.

But at about 1.30pm today, New Zealand First leader Winston Peters announced he'd reveal the contents of the tape at a public meeting in Invercargill.

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He's said the tape canvassed issues including the future and leadership of the Act party, New Zealand First's electoral chances and the percentage of the vote National would secure.

At the meeting at the Invercargill Workmen's Club, Mr Peters said: "If you sat down in a café or restaurant and there was a black pouch on the table what would you do? Of course you would take it to the counter - that is what decent people do. But Key and Banks did not do that simple act for one reason," Mr Peters said.

"They were enchanted. They were enchanted with each other - and the bit of political theatre they had contrived. Contrived with a capital C!"

Mr Peters said he felt this would be an embarrassment for the Prime Minister.

"John Key has been found wanting. And the New Zealand electorate has been warned in time to take the action at the ballot box."

Search warrants for four media organisations

Earlier today police confirmed four media outlets, including Radio New Zealand and TVNZ, would be searched for any material they might have in their possession that relates to the tea pot tapes.

Radio New Zealand had reported this morning it has been told by police to hand over any unpublished news material it has relating to the tea pot tapes.

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TVNZ also confirmed it will be searched.

The freelance cameraman who recorded the conversation gave the tape to the Herald on Sunday.

The paper reported the fact the conversation was recorded - but not the content of the tape.

TV3 has also said it has a copy of the tape, but has not aired it.

Police say 'about four' other media organisations will be served with a search warrant.

TVNZ's political editor Guyon Espiner reported on the broadcaster's Midday programme that TVNZ had been told to expect a search warrant.

Herald on Sunday Editor Bryce Johns says he has had no approach from police this week.

Radio New Zealand's head of news, Don Rood, says the organisation is refusing to hand over any material gathered by news staff to police.

Police have told him that they will get a search warrant and execute it today or tomorrow.

The broadcaster's Checkpoint programme ran an interview with Bradley Ambrose, the cameraman who made the recording.