Australia Set For Massive Media Shake-up As “Two Out Of Three” Rule Set To Get The Boot

Australia Set For Massive Media Shake-up As “Two Out Of Three” Rule Set To Get The Boot
SHARE
THIS



The Turnbull government looks set to make good on its promise to overturn the existing “two out of three” rule for media ownership which, in turn, could start an avalanche of take-overs and new players come 2016.

The rule – which doesn’t allow a media company to own print, TV and radio in the same space – was first introduced back in the 80s. It has been argued that the rule bought more fairness and impartiality to reporting but most media companies argue it’s had its day and deters investors and expansion.

As reported by B&T on Monday, the rule has been in the government’s crosshairs for some time and seems to be of particular interest to the former communications minister come prime minister, Malcolm Turnbull.

According to reports in The Australian this morning, communications minister Mitch Fifield met with cabinet ministers on Monday evening to canvass support for wholesale changes to Australia’s media laws that most agree are desperately in need of revision in this new digital era.

However, there has been concern from some Coalition politicians whose seats are in regional areas that media – particularly regional TV stations – could be bought-up and the local content diluted and newsrooms closed. It is thought that any new legislation would only get passed if there was a guarantee that local content was protected.

The new laws could bring a whole raft of new scenarios with overseas players reportedly particularly keen to snap up some bargains with the Aussie dollar so low.

Some of the more likely scenarios would be Bauer buying Southern Cross Austereo (SCA), Nine Entertainment merging with Fairfax Media (and even SCA too), and the News-owned Foxtel buying Network Ten. Again, a lot of the regional players would be highly prized by the likes of News, Seven and Nine.

It’s unlikely that any new legislation would be put to parliament before the first quarter of 2016 and even then it would most likely need to be backed by Labor to get through the senate. It appears the opposition is warming to changes to the laws – something it was averse to do during the Rudd-Gillard years –  but has publicly stated that it won’t say “yay” or “nay” until it sees the government’s proposal in full.

 

 

Please login with linkedin to comment

Advertising Standards Bureau Emaling facebook insights Radio Seven

Latest News

person using mobile application on smartphone, abstract close up of hands
  • Technology

Mobile Advertising Company Kargo Announces New Hires Following H1 Growth In APAC

Kargo has today announced several major growth milestones across the APAC region for the first half of 2021, more than doubling H1 revenue year-over-year with 115 per cent growth. Kargo also ran 41 per cent more campaigns in the region than in H1 2020 and the average campaign size increased by 32 per cent over […]

Hootsuite Acquires Conversational AI Platform Heyday
  • Technology

Hootsuite Acquires Conversational AI Platform Heyday

Hootsuite has today announced its acquisition of Heyday, a Montreal-based conversational AI platform that enables brands to deliver personalised customer experiences through 1:1 messaging conversations. Commerce is rapidly moving onto social and messaging platforms. Hootsuite, a pioneer in the social media management category, has the largest customer base in the industry and with this acquisition […]

Officeworks Partners With Canva
  • Campaigns

Officeworks Partners With Canva

B&T's a huge fan of the Officeworks shopping experience, but just throwing it out there about possible $1 hot dogs?

PRIA Announces National Conference
  • Marketing

PRIA Announces National Conference

Public Relations Institute announces national conference. Sadly, Roxy won't be speaking on unwanted doorstep excreta.

EATIVITY Founder Moira Geddes Becomes First-Ever Micro-Publisher To Take Part In IAB Mentorship Program
  • Technology

EATIVITY Founder Moira Geddes Becomes First-Ever Micro-Publisher To Take Part In IAB Mentorship Program

Moira Geddes, founder and director of independent food publication EATIVITY has been handpicked by IAB Australia to become the first ever micro-publisher to take part in its Mentorship Program, highlighting the important role that specialised custom digital sites play within the country’s media landscape. EATIVITY aims to keep consumers in the know and help small […]

Hivestack Appointments Ichiro Jinnai As President, Japan
  • Advertising

Hivestack Appointments Ichiro Jinnai As President, Japan

Hivestack, the global ad tech leader in programmatic digital out of home (DOOH) advertising, today announced the appointment of Ichiro Jinnai as president, Hivestack Japan. Jinnai will be responsible for driving the regional strategy, direction and expansion of the Hivestack platform in Japan. “I am beyond thrilled to welcome Ichiro Jinnai to the Hivestack family,” […]

LENS Technology & Analytics Appoints Nikhil Elayat As Business Director
  • Advertising

LENS Technology & Analytics Appoints Nikhil Elayat As Business Director

Audience measurement platform LENS Technology & Analytics has appointed Nikhil Elayat to Business Director to fast-track growth opportunities across Australia and New Zealand. Elayat (pictured) joins from New Zealand’s largest independent advertising agency, Stanley Street, where he was head of advertising technology. He played a pivotal role in building adtech functions within the performance team […]

Burnet Institute Launches How Science Matters Podcast
  • Media

Burnet Institute Launches How Science Matters Podcast

Australian medical research institute, The Burnet Institute has launched, How Science Matters podcast. The informative podcast will be co-hosted by former ABC Radio journalist Tracy Parish and Burnet institute director and CEO Professor Brendan Crabb AC. Crabb is also a microbiologist, malaria researcher and will share his knowledge on contagious diseases. How Science Matters was […]

D&AD & Google Launch Shift In Sydney
  • Advertising
  • Media

D&AD & Google Launch Shift In Sydney

This extols "turning your passion into your profession". Unless your passions are dancing dachshunds or roller limbo.