ustralia's $12 billion media industry is changing. But not many are smiling. Under the changes, limits on foreign companies owning a share of the national media will be lifted. Australian firms will get the chance for the first time to own print, radio and TV interests in one city or regional area. But the freedoms are limiting. Media firms will not be able to own more than one TV station or two commercial radio stations in one market, and a minimum of five commercial owners in capital cities and four in regional centres will apply. All broadcasters, including national broadcasters ABC and SBS, as well as the three commercial TV networks, will each get a new digital multichannel as Australia moves from analogue to digital TV system between 2010 and 2012.

But critics have panned the revamp policy, stating it will shortchange consumers. The cross-media ownership laws are especially attracting criticism since ownership will be concentrated in the hands of a small number of businessmen. Critics say the policy will leave the consumers with less diversity. ... more