Reuters: Private Equity: Review urges new Australian media ownership laws

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Review urges new Australian media ownership laws Apr 30th 2012, 07:23 CANBERRA, April 30 | Mon Apr 30, 2012 3:23am EDT CANBERRA, April 30 (Reuters) - A government review of Australia's media rules has recommended a major easing of cross-ownership restrictions on the nation's newspapers, television and radio networks in findings that could pave the way for more media consolidation. The review, released on Monday, recommended that Australia abandon current cross-media ownership rules for newspapers, radio and television, which it said have become outdated due to the emergence of social media and Internet news sites. Such a change, which the government has not endorsed, would allow companies such as Rupert Murdoch's News Corp to buy other media interests. Previous attempts to ease ownership laws have drawn criticism that they will threaten democratic protections. The current cross-media laws, last reviewed in 2006, limit a person or company to control a maximum of two of the three main media platforms in the same market under a "two out of three" rule, and take no account of news websites. "Today news aggregators, search engines and social media such as blogs play an increasing role in distributing news and information. Australians can now access international publications and watch news content online from around the world," the report said. Australian media is among the world's most concentrated, with News Corp controlling around 70 percent of the country's newspapers, including The Australian national daily and papers in Brisbane, Sydney, Melbourne, Adelaide and Hobart. The other main newspaper group is Fairfax Media, which publishes the national Australian Financial Review as well as the Sydney Morning Herald and Melbourne The Age newspaper. Australia also has three main free-to-air television networks Nine, owned by private equity group CVC, Ten Network Holdings and Seven West Media, as well as the publicly funded ABC and SBS television networks. The Convergence Review said the existing two out-of-three rule should be replaced by rules ensuring at least five separately controlled media organisations in Australia's main cities, and at least four organisations in regional areas. The review also recommended scrapping rules which prevent media companies from owning more than one television station, or from owning more than two radio stations, in the same market. Communications Minister Stephen Conroy said he would consider the recommendations of the report, which he set up in early 2011 to examine media and communications regulations in Australia. Link this Share this Digg this Email Reprints

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