Australian Govt. Proposes Dereg Of Broadcasting, Could Allow More Foreign Ownership
March 16, 2006 at 12:48 PM (PT)
He says he won't be pushing for the government-owned AUSTRALIAN BROADCASTING CORP. to go commercial, but AUSTRALIA Prime Minister JOHN HOWARD is proposing sweeping deregulation of broadcasting aht could open the door to more foreign investment in the nation's commercial radio and TV industries. The reform package was released as a letter by Communications Minister HELEN COONAN earlier this week, with responses due by APRIL 18.
Current rules prohibit foreign companies from owning more thay 15% of broadcast outlets or 25% of newspaper companies, and ban owning 15% of a single city's TV, radio, and print operations. CLEAR CHANNEL presently owns a stake in AUSTRALIAN RADIO NETWORK, partnered with APN NEWS AND MEDIA in the company, which owns 12 radio stations in major markets.