0/5

Report: Nine, Fairfax talks side-step media ownership laws.

Companies explore talks while the government's media reform bill faces opposition from Labor & the Greens.

nine-tcn

Nine and Fairfax have held joint talks to side-step media ownership laws while the government’s media reform bill faces opposition from Labor and the Greens.

According to a report in The Australian one scenario discussed would see Fairfax spin off its majority stake in 2GB radio station owner Macquarie Media, some of its news and digital assets and its events division into Nine in exchange for an equity stake of around 30%.

Such a deal would require the two-out-of-three rule, which prevents an entity from controlling a newspaper, radio station and free-to-air TV licence in the same market, to be repealed because an equity stake of more than 15 per cent is considered a controlling interest.

Sources cautioned that a transaction was not imminent and there was no guarantee of any deal being reached.

Both Nine and Fairfax are joint owners of SVOD service, Stan.

2 Responses

  1. David I’d love to know your opinion on these antiquated laws governing broadcasting rules. Personally I’d love to see all these restrictive rules abolished. Of course some will argue about media monopoly but this potentially allows overseas media organizations to step into the Australian market. How is it other industries have been de-regulated but somehow media companies – controlled by a few – have such control over successive governments. As far as I’m concerned it’s survival of the fittest now.

    1. I think it’s clear the rules need to reflect changes in technology. But diversity in media ownership is also important and there are already concerns about print media in Perth. Local regional news also needs to be supported not lost in the tide.

Leave a Reply