Media Wars Hysteria
October 29th 2006 03:59
It was almost inconceivable that Helen Coonan could fail to see the link between her new media laws and the media ownership frenzy that occurred about the same time the laws passed. Before the laws were passed she told us she didn’t think they’d lead to such moves. Now she tells the Australian that “clearly the new media laws are a catalyst” for such action. Talk about a back-flip.
The need for diversity of ownership in the media sector is crucial – and should be self-evident. However, ownership and control now appear to be two separate things. The PBL sale of assets (including Channel Nine) is a concern because James Packer will retain control of the assets that he has sold. Thus, in the interests of diversity, the laws surely need to prevent PBL from buying a majority stake in another media company – say, Fairfax. Luckily, it seems that Mr Packer is more interested in the gaming and entertainment sector.
If the people of Perth are worried about Kerry Stokes’ purchase of a significant number of shares in West Australian Newspapers, Rupert Murdoch’s move on Fairfax is far more troubling. Murdoch already sells 68 per cent of newspapers in Australia, including the Herald Sun and the Australian.
Let’s hope that Steve Fielding is right – the Family First Senator accepts that scrapping cross-ownership laws may “lead to more concentrated media ownership” but believes journalists and editors drive media opinion, not owners. If he is wrong then we should be worried.
The need for diversity of ownership in the media sector is crucial – and should be self-evident. However, ownership and control now appear to be two separate things. The PBL sale of assets (including Channel Nine) is a concern because James Packer will retain control of the assets that he has sold. Thus, in the interests of diversity, the laws surely need to prevent PBL from buying a majority stake in another media company – say, Fairfax. Luckily, it seems that Mr Packer is more interested in the gaming and entertainment sector.
Let’s hope that Steve Fielding is right – the Family First Senator accepts that scrapping cross-ownership laws may “lead to more concentrated media ownership” but believes journalists and editors drive media opinion, not owners. If he is wrong then we should be worried.
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