Veteran Australian journalist Michael Schildberger, presenter of a famous current affairs show in the 1970s, has lost his battle against prostate cancer.

Schildberger was best known for being the anchor of Channel Nine's A Current Affair. He started his 30-year-journalism career as a copy boy in 1955 and completed a cadetship with the Melbourne Sun before he became a news director at several networks.

He quit journalism back in 1984 to start his own company, the Business Essentails, which produced audio, visual, online and training packages for businesses and also provided media training to executives.

After 14 years of fighting against cancer, Schildberger surrendered this morning. Beside him on his death bed were his children Tim, Kate, Nick and Amy, and stepdaughter Rani.

Nick Schildberger, who started working with his father at Business Essentials in 2001, described his dad as a positive, generous and devoted family man.

"He was a much-loved man who gave everything for his family," he said.

"He was extremely generous and the most positive person I've ever known."

According to Nick, Schildberger considered his careers as a journalist and businessman extemely rewarding.

He stayed grounded despite his success on being a news director, A Current Affair host, Canberra bureau chief at Nine, news director at Channel Ten and Fox FM, and a morning show host on ABC Radio.

"Dad was a very modest man, he never saw himself as a celebrity or anything like that," Nick said.

"He very much enjoyed the personalities he came across in his career, the politicians and other personalities he came into contact with and he very much enjoyed his work both as a broadcaster and a businessman."