Media ownership reforms may occur in 2014

The Australian media landscape may be set for a massive upheaval in the next few years, if Federal Communications Minister Malcolm Turnbull’s proposed changes for the media ownership laws come to pass.

“We’re just working through a period of consultation and we hope to come to a landing on any changes to ownership-related issues by the end of the year”, Turnbull told The Australian.

The regulation that will have the biggest impact on the radio sector is the ’2 out of 3’ rule, which currently prevents a single corporation from owning more than two of three properties – television, newspaper and radio – within a market.

Should these ownership laws be softened, or lifted altogether, we may see significant changes in the marketplace, as companies divest and scramble to purchase – or sell – major media properties, including radio stations or networks.