Key Points:
The changes recognise that traditional media platforms
need greater freedom to restructure and rescale the ownership of
their businesses to respond to competition from new forms of
media.
The Turnbull Government announced on 1 March 2016 its proposed
package of changes to Australia's media ownership laws
including, as was widely anticipated, the repeal of the 75% reach
rule and "2/3" cross-media ownership rule.
The announcement follows a long period of speculation about when
and what changes would be made at least since changes were first
recommended by Malcolm Turnbull as Minister for the Department of
Communications and the Arts in March 2015.
The Government said that the changes recognise the growing
importance of online and other digital forms of media as compared
with traditional media platforms. There is increasing evidence to
support this shift although many regulators, including the ACCC,
have been slow to recognise this.
