Media ownership rules ‘redundant’: watchdog
THE head of the nation's competition watchdog says media rules governing who can own what are outdated in the online age.
In a speech this week, Australia Competition and Consumer Commission chief Rod Sims urged that major media reforms should go ahead.
It was the strongest signal the government plans to phase out the "75% reach rule" and "two out of three" rules that prevent any media company owning the biggest share of any market.
Mr Sims said changing technology such as the internet had made the media ownership rules "redundant" and media reform was an "excellent place to start" wider competition policy reforms.
It comes as Communications Minister Mitch Fifield looks seriously at media reforms rejected by both the Gillard and Abbott governments in recent years.
Major television companies have repeatedly called for reforms to help them maintain their viability as advertising revenue falls.