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Current Issues Brief 30 1996-97

Cross-media Rules-OK?

Brendan Bailey
Law and Bills Digest Group
3 June 1997

Contents

Major Issues Summary

Introduction

The History of Australia's Regulation of the Media

    Brief Constitutional Overview
    Print Media
    Radio Broadcasting
    Television Broadcasting

Australia's Existing Cross-media Rules

    The Concept of Control

The Basic Cross-media Rules

Broadcasting and Cross-media Laws in Great Britain and the United States

    Great Britain
    United States
    Europe and the European Union: Multi-Sectoral Integration
    Germany
    Italy
    France
    European Union
    Multi-Sectoral Integration

Cross-media Influence

    Australia's Foreign Ownership Restrictions

Concluding Observations (Options Open to Government)

Appendix 1

Measuring Cross-media Influence

    Introduction
    The 'New Media' in Context
    Cross-media Indicators
    TABLE 1: BROADCASTING
    TABLE 2: PRESS AND MAGAZINES
    TABLE 3: CROSS-MEDIA INDICES

Endnotes

Major Issues Summary

The most common reason given for the presence of restrictions such as cross-media rules is that they are necessary to ensure that in a free and democratic society the majority of citizens have access to a choice of voices and opinions. This is the concept of pluralism. It is considered important that there is diversity in what is available for us to read, hear or see in the media. The preservation of media diversity in the public interest also intersects with other policy considerations such as the level of foreign ownership and the potential for anti-competitive behaviour arising from concentrations of ownership in any industry.

This intersection of policy considerations creates a complex set of rules which involve technical, legal and conceptual difficulties. One of the key difficulties is to determine what constitutes 'control' in terms of the level of ownership-whether control can be deemed to be relevant when the involvement is that of an economic interest such as a financial backer who has potential control rather than actual control.

Australia introduced cross-media rules in 1987. Such rules exist in other countries, and in 1996 both the United Kingdom and the United States made substantial changes to their cross-media laws. Although diversity and concentration in the media are still issues in those countries, the trend appears to allow more integration of the various forms of the media. In the United States, the presence of established private telephone companies in competition with the television cable industry is an added dimension. In Britain, membership of the European Union and the presence of European controlled satellite services, combined with the sophistication of digital services, create dimensions which Australia is just now starting to encounter.

Both public broadcasting and the commercial mass media are important influences in our community. Australia has a difficult decision to make in determining how it addresses the cross-media issue. Considerable amounts of capital are at stake.

This paper concludes with options open to the Government and suggests that, while there are late-breaking rumours of significant changes to the cross-media rules, the most likely outcome is that there will not be any alteration of the cross-media rules for the time being.

Introduction

Television, radio and the print media play an important role in the communication of ideas and opinions in a free and democratic society. Commercial advertising also offers the opportunity for financial reward for investors in the media industry. Concentration of ownership of the media raises two main concerns for government. These are the need for economic regulation and the avoidance of political influence (ie. influence in the broadest sense of the term, including party political, religious and even cultural influences).

Regulating the economic aspects of media concentration involves ensuring that there is competition, so that pricing is competitive and that there are no restrictions on entry to the industry. Concern over political influence manifests itself in a need to protect a plurality of sources of information and opinion. In Australian society, suspicion over party political influence is usually at the forefront of any government concern. In other countries, concern to ensure a respect for religion can also be an important added dimension e.g. Arab nations. (1) In most societies, there is also a concern about protecting cultural heritage in the face of increasing media globalisation. This issue embraces both Western versus Eastern cultural influences, as well as the dominance of one Western culture over another.

Cross-media rules recognise that concentration can occur across the various forms of the media. A newspaper proprietor, for example, may wish to expand into radio or into television. Rapid advances in communications technology in recent years have seen technical convergence of the separate forms of the media. This convergence makes it desirable for major players in the media to implement a strategy that ensures they have related interests across the various forms of the media. There is an increasing trend for players in the media industry to develop, and invest in, multi-media integration. In addition, the globalisation of telecommunications has seen a move toward the establishment of global media networks. (2)

It can be argued that the convergence of the means of communications afforded by this new technology also gives rise to the question of whether it is appropriate to continue with cross-media rules. It may be time to ignore the type and form of the media and look to regulation of concentration in the market as a whole.

The History of Australia's Regulation of the Media

Brief Constitutional Overview

The Commonwealth's power to regulate the mass media rests primarily on section 51(v) of the Constitution which provides that the Commonwealth Parliament may make laws dealing with 'Postal, telegraphic, telephonic and other like services'. This power is also referred to as the 'broadcasting power' or 'communications power'. When the Constitution was drafted in the 1890s, newspapers were already operating under the then laws of the individual Australian colonies which at Federation in 1901 became States. The specific need for national uniformity in media law was not addressed in the Constitution. As a generalisation, the impact of Commonwealth law on the print media is less direct (in a regulatory sense) than for broadcasting. Commonwealth laws on corporations, trade and commerce, mergers and monopolies, foreign investment, cross-media ownership and copyright do, of course, apply to the print media in essentially the same way as they apply to other sectors.

Print Media

Regulation of the print media is, basically, a matter for State and Territory law. These laws are referred to as the 'imprint laws' and they vary throughout Australia. Essentially, they require the imprint on the publication of the name and address of the publisher and printer, the year of publication, and the retention of copies of the publication for at least six months. These are old laws and they trace their origins to the United Kingdom where laws regulating printing were designed to repress dissent at the time of the French Revolution (1789-99). In marked contrast to radio and television, there are no laws in Australia to require diversity of control in the print media. (3)

Commercial newspapers are, of course, a business and they invariably take a corporate form with publicly listed shares. As noted above, the Commonwealth has the constitutional powers to make laws with respect to corporations, and for the purposes of trade and commerce with other countries and among the States. (4) Foreign ownership of the print media in Australia is regulated under the Foreign Acquisitions and Takeovers Act 1975 and related Government policies. Individual foreign ownership of a mass circulation newspaper is limited to 25% and aggregate ownership by foreign owners to 30%. The current threshold limits on foreign investment in the print media were established by the former Labor Government in April 1993, in response to the application by the Canadian media magnate Conrad Black for a controlling interest in the Fairfax newspaper group. (5) The restrictive trade practices provisions of the Commonwealth's Trade Practices Act 1974 (e.g. mergers or acquisitions that would substantially lessen competition) also apply.

The print media has established industry self-regulation through the Australian Press Council and by the formulation of a professional code of ethics. Defamation actions involving the media are, essentially, a matter for State and Territory laws and the common law.

Radio Broadcasting

Commercial radio broadcasting began in Australia in 1923. Licences were issued by the then Postmaster-General pursuant to the Wireless Telegraphy Regulations. A problem soon developed in that the radio stations tended to concentrate in the major metropolitan areas close to their revenue base. A further complicating factor was that the metropolitan stations were able to afford more comprehensive programming. There were some commercial stations which operated national studios but they were limited. It became clear that in a country as vast as Australia, the government would have to establish a truly national broadcaster, including short-wave stations for remote areas. The national broadcasting service absorbed most of the commercial national stations and began operations in July 1932.

The various Commonwealth laws dealing with the regulation of commercial and national wireless broadcasting were later combined into the one statute, the Australian Broadcasting Act 1942 (later re-titled to the Broadcasting and Television Act 1942 and finally the Broadcasting Act 1942). Under the early forms of regulation, radio stations were required to devote 2.5 % of transmission time to Australian music. Music is a major programming component of radio broadcasting. Music, as a form of culture, is more readily accessible than, say, works of art. It was the recognition of the range and volume of music available to radio which underlined the importance of giving Australians access to the work of Australian composers and performers which they might not otherwise hear. (6) Advertisements for patent medicines were limited to those approved by the Commonwealth or State health authorities. Each radio licensee was required to lodge an annual balance sheet and a profit and loss account with the Government. Political broadcasting rules applied during election campaigns, in much the same form as they apply today.

In 1969, ownership and control restrictions were introduced for commercial radio broadcasting but the restrictions only applied to future acquisitions. Divestiture of existing controlling interests in a number of stations was not implemented. The current legislation is the Broadcasting Services Act 1992. As a generalisation, radio broadcasting is now mainly regulated by the industry through industry codes of practice (including issues such as Australian content), with the Australian Broadcasting Authority having overall supervision.

Television Broadcasting

Television transmission commenced in Australia in 1956. In four years, television coverage extended to over 60% of the population. (7) The then Broadcasting and Television Act 1942-56 contained restrictions which provided that a person could not control, directly or indirectly, more than two television licences. A further restriction stated that 80% of the shares of a company holding a television licence must be held by Australian residents with no one person holding more than 15% of the shares. Television is currently regulated under the Commonwealth's Broadcasting Services Act 1992. The Australian Broadcasting Authority is required to make mandatory standards as to Australian content on commercial and community television (especially in relation to programs for children). (8) Industry codes of practice also apply.

Australia's Existing Cross-media Rules

The Concept of Control

The concept of 'control' is the key to an understanding of the cross-media rules. In a conventional corporate structure which has a share capital it is easy to understand that whoever holds 51% of the voting shares controls the company. This is known as majority control. A publicly listed company may have millions of shares on issue and the ownership of the shares may be widely held so that no one person or entity holds more than, say, 15%. Whoever is the holder of 15% of the voting shares in such a company is the significant or leading shareholder and he or she is in a position to influence the votes of other shareholders. Consequently, the 15% threshold figure is a starting point for the assumption that the leading shareholder controls the company. The 15% figure is an arbitrary but now well accepted benchmark.

Another mechanism for control is to have the majority of directors on the board of the company. In certain circumstances, this can arise because the leading shareholder may also be a lender of finance to the company and be entitled to have nominee directors on the board. This form of control becomes more apparent in the relationship between a holding company and a subsidiary company. This situation is also relevant to the cross-media rules because the rules also apply to a chain of companies in which the primary control remains at least 15% when traced back through the chain. In other words, the cross-media rules are not defeated by the controlling party 'hiding' behind a chain of companies.

As already indicated, the figure of 15% of the voting shares is a threshold. It is technically possible to have, say, 18% of the voting shares and not breach the cross-media rules because another competing interest holds 25% of the voting shares. Mr Kerry Packer successfully proved this point in April 1995 when he increased his shareholding in the Fairfax newspaper group above 15% to 17.17%. The Australian Broadcasting Authority ruled that neither Kerry Packer nor any associates were in a position to control the Fairfax group in the face of a higher percentage shareholding which was then in the hands of the Canadian media magnate, Conrad Black. (9)

Once shareholding reaches the 20% level in a publicly listed company, special takeover provisions in the Corporations Law also apply. (10) The concept of control is also relevant in considering whether certain shareholders who each hold less than 15% of the voting shares may nevertheless act in concert because of some association or agreement. The issue of control is also complicated by the potential impact of a major lender to the company who does not have immediate voting control but nevertheless is in a position to have a significant influence on the direction of the company. Apart from the nominee directorship aspect mentioned above, such influence can also arise in situations where the company has, say, issued financial debentures (loan instruments or securities) which can convert to ordinary voting shares at the option of the holder.

There is a good explanation of this concept of control in Schedule 1 to the Broadcasting Services Act 1992. The Schedule also confirms that the Australian Broadcasting Authority has a monitoring role over the broadcasting industry.

This monitoring role was demonstrated recently when the Australian Broadcasting Authority reported on the perceived level of foreign influence held by Canadian Israel Asper's CanWest group in the Ten Network. CanWest has a combination of share voting power (14.99%) and financial investment by way of a substantial economic interest in the Ten Network. CanWest's economic interest in the Ten Network recently rose to 76%. On 2 May 1997, the Treasurer, Hon Peter Costello, issued a directive that CanWest must reduce its economic interest to 57%. CanWest has been given six months to regularise its level of economic interest in the Ten Network. (11) This is an interesting development because CanWest's initial involvement restored the economic fortunes of the Ten Network. It must also be noted that Canada, like Australia, does not allow foreigners to control television networks. (12)

The Basic Cross-media Rules

The following table provides a summary of the basic mass media restrictions. Not listed, for reasons of brevity, are the combinations involving 'control' via directorships.

Table 1: Concentration of Control and Cross-media Rules

Concentration of Control

Radio A person must not be in a position to control more than 2 licences in the same licence area. There are no media specific restrictions on foreign control of radio.

Television A person must not control television licences whose combined area exceeds 75% of the population of Australia.
A person must not control more than one television licence in the same licence area.
A foreign person must not control a television licence.

Newspapers A foreign person must not hold more than a 25% interest in a mass circulation newspaper.

Cross-media Restrictions

Television and Radio A person must not control a television licence and a radio licence that have the same licence area.

Television and Newspapers A person must not control a television licence and a newspaper associated* with the licence area of the television licence.

Radio and Newspapers A person must not control a radio licence and a newspaper associated* with the licence area of that radio licence.

Pay TV A person who controls a Licence A or Licence B subscription television licence must not have more than a 2% interest in the other licence, or be in a position to control that other licence.

* 'Associated' means that at least 50% of the circulation of the newspaper is in the broadcasting licence area. (13)

Broadcasting and Cross-media Laws in Great Britain and the United States

Both the United States and Great Britain liberalised their laws on aspects of cross-media ownership in 1996. Some restrictions do, however, remain.

Great Britain

Great Britain enacted the Broadcasting Act 1996 in July 1996. This legislation has been described as permitting the 'most liberal ownership regime in Europe'. (14) The legislation is, however, quite complex and it reflects factors which, as yet, are not directly comparable with the situation in Australia. For example, there are domestic and non-domestic satellite services, as well as the special aspects of regional broadcasting. (Australia will have somewhat equivalent commercial access to Asian satellites broadcasting pay television in July 1997, with the deregulation of the telecommunications sector). In addition, in the United Kingdom, broadcasting licensing covers a range of categories in television including 'programme services', 'restricted services', 'television multiplex services', 'digital programme services' and 'digital additional services', as well as regional and national channels. A similar licensing regime applies to national radio, local radio, and satellite radio services as well as digital and multiplex radio services. 'Multiplex' allows multiple broadcast signals on the same system. The digital system allows compression of the broadcast signal and the efficiency of the system is enhanced by computerisation. Australia will move to digital radio and television systems shortly after the turn of the century. (15)

In the United Kingdom, there is a general limit which prevents any one person from holding two or more licences in specified sectors, when his or her total audience time in the preceding calendar month exceeded 15%. No one person may hold more than 3 licences for multiplex television services. The assessment of interest by a broadcast licensee in 'programme services' is calculated by reference to a points table. A licence holder can have two local radio licences, only if one is an FM station and the other is an AM station, or if the relevant government authority finds that multiple licensing in a particular case is not contrary to the public interest.

The key cross-media restriction under the British Broadcasting Act 1996 is that a person who runs a national newspaper which has a market share of 20% may not hold a licence to a regional or national television station, or a national or local radio station. The relevant limit for inter-related company interests is 20% (i.e. a newspaper owner is limited to a 20% interest in the holder of a broadcast licence). The limit for market share for a local newspaper is 50% of the market.

The British Broadcasting Act 1996 also has a 'public interest' provision which enables denial of a cross-media investment by a newspaper if such an association with a broadcasting licence would, in all the circumstances, operate against the public interest.

In terms of significant cross-media interests, Britain allows the print media giant News International, to also operate the satellite television broadcaster British Sky Broadcasting (BSkyB). The former British government defended its decision on two main grounds. The first ground was that blocking the television operation would only have caused Rupert Murdoch's company to move its television service off-shore into Europe or to international waters. The second was that the satellite facility, Astra, is not a domestic or restricted service. Astra is operated from Luxembourg on the European continent. Other operators are free to institute channels on Astra and there is no scarcity of broadcasting frequencies. The former British government's arguments are not free of criticisms and the most obvious is that cross-media rules are not there to regulate any scarcity of broadcasting frequencies but to ensure plurality of views and information.

It must be conceded, however, that given the fact that Britain must observe the principles of the free movement of good and services throughout the European Union, it is limited in what it can do to restrict broadcast services. Likewise, the related issue of foreign ownership of the media is more complicated in Britain.

The former British Government considered, but did not implement, the concept of 'Share of Voice' approach to measuring and regulating total media ownership when formulating the Broadcasting Bill 1996. It was conceded that there was insufficient agreement on aspects of the concept. This issue is more fully explained in the Appendix to this paper and in the Research Note, The 'Share of Voice' Approach to Cross-Media Ownership Control issued by the Information and Research Services in April 1996. (16)

United States

Regulation of ownership and control of broadcasting in the United States is implemented under the Communications Act of 1934 and the rules of the Federal Communications Commission (FCC). Up until 1996, no foreign ('alien') ownership or control of a broadcasting licence was permitted. Under the FCC's rules and regulations, the duopoly rule ('multiple ownership') prevented the overlap in the same area of AM, FM radio or TV licences owned or controlled by the same party. The same rule prevented a broadcasting licence being issued to a party when the broadcast area encompassed the entire community in which the same party controlled and published a newspaper. (17)

Perhaps of greater interest, given Australia's impending deregulation of its telecommunications sector, are recent US legislative developments in cross-media ownership which have mainly focused on cable television services and telephone companies. In February 1996, the United States Congress enacted the Telecommunications Act of 1996 which also modified the cross-media rules issued by the FCC under the Communications Act of 1934. Essentially, the Telecommunications Act of 1996 repealed much of the former restrictive regime and replaced it with a test which, in general terms, looks at aggregate share of the market. The permitted upper limit of network television audience reach was increased to 35% of the national market, with a further increase to 50% in 12 months. Foreign ownership restrictions on broadcast licences were eased, at least to the extent of short-term or occasional transmissions by satellite of audio or television program material. The US Congress has recognised that the old prohibition was insular and at odds with its own industry's interests in broadcasting to other countries. The FCC will, however, have the power to refuse or revoke such a broadcast licence in the public interest.

The effective repeal of the old cross-media restrictions in the US attracted dissenting views contained in House of Representatives Commerce Committee's Report No. 104-204 of July 1995. (18) The dissenting views identified the issues of perceived threat to media diversity and the problem of mass media concentration. One of the main concerns was that local television broadcasting would eventually be absorbed by the networks. Under the old system, local television broadcasters could affiliate with a network and carry national network sports programs and news but still have a mix of local news and locally produced programs. The dissenting views included the following comment:

    The drastic and indiscriminate elimination of mass media ownership rules proposed by this Bill, in response to pressure from special political and corporate interests, would eviscerate the public interest of diversity and localism. The proposed changes will not create entertainment and information sources for consumers. Nor will they enhance the ability of the broadcast medium to meet the informational and civic needs of the communities it serves. Instead, H.R. 1555 [the Bill] will concentrate great wealth and media power in the hands of a few. (19)

One of the key aims of the Telecommunications Act of 1996 was to remove the previous prohibition on telephone companies offering cable service within their telephone service areas. Cable television commenced in the United States in the early 1950s. It was initially provided to improve television reception in certain rural and remote localities. For many years it was a fledgling industry and cable services were regulated by a combination of Federal and State laws. In the 1980s, Congress recognised that the full potential of cable services was being impaired by haphazard regulation. A national Cable Communications Policy Act of 1984 was enacted. A measure of deregulation was introduced and the cable industry became a powerful force in its own right but deregulation had a down-side in that some cable services raised their subscriber rates. Congress intervened with the Cable Act of 1992 to restrain hyperinflationary price hikes and to help foster competition. It is estimated that this legislative intervention saved consumers $3 billion. Congress has now determined that telephone companies should no longer be prevented from competing with the now firmly established cable services. (20)

As already noted, the Telecommunications Act of 1996 also increases the amount of national audience a television licensee may reach from 25% to 35%. Cable operators are no longer prohibited from acquiring an interest in a television station in the same area as their cable service, but some limits do apply. Cable and telephone companies may own up to 10% of each other in major markets, and 100% in smaller, rural markets.

It is still possible for the FCC to implement cross-media restrictions if it is satisfied that the licensing would result in an undue concentration of media voices in the respective local market, or would result in two or fewer persons or entities controlling all the media of mass communications in the market. (21)

In passing, it should be noted that the United States has powerful antitrust laws to regulate anti-competitive mergers, acquisitions and monopolies.

Europe and the European Union: Multi-Sectoral Integration

As a generalisation, in Europe there appears to be a broader base to business interests involved in the mass media. For example, the conventional print, radio and television interests may also be part of more diversified alliances such as book publishing, music publishing, advertising and film production. Program production is also an important activity within the broader scope of mass media. An added dimension in Europe is, of course, compliance with the European Union's rules on competition policy which have been adopted by member countries to prevent potentially undesirable market behaviour such as cartels or anti-competitive concentration.

Germany(22)

The broadcasting system in the Federal Republic of Germany is one of the most powerful in Western Europe. Given the political history of Germany, pluralism in both the political and social-cultural dimensions permeates the Constitution, the Basic Law, which was created in 1949 under Allied supervision. Germany is a federation and there are federal (Bund) and Land laws which impact on the mass media. (The Lander are somewhat equivalent to States). The Federal Constitutional Court can rule on the validity of individual Land laws to protect the Constitution. This is important because it is the individual Land laws which regulate the media. National regulation is achieved by an inter-Land treaty which is ratified by each Lander legislature. When the main treaty was signed in 1987 (i.e. prior to German re-unification), there were 11 Lander.

Cross-media rules are implemented under the laws of the individual Lander. The basic aim of the rules is to prevent what are referred to as 'double monopolies'. The percentage limits vary between the Lander and generally range from 20% to 50%. For example, under the most generous cross-media rules, if a publisher dominates within a broadcast area then that publisher is confined to half the ownership of a broadcasting licence or the ability to supply half the programs. One Lander (Hessen) distinguishes between broadcasting and supply of programs and excludes a dominant publisher from broadcast but not program supply. Cross-media rules are not specified in the Inter-Land Treaty of 1987. Essentially, there is no restriction on foreign investment in the media but the broadcasting rules combined with the variations between the Lander invariably means that foreign investment is achieved in partnership with local media interests which are more familiar with the intricacies of the German system. (23)

Italy

The importance of cross-media regulation was exemplified by the media dominance that Silvio Berlusconi was able to achieve in Italy. In 1979, Berlusconi controlled a media empire centred on the Finivest conglomerate. He controlled the newspaper Il Giornale, 90% of Italy's commercial television and the Mandadori publishing house. Silvio Berlusconi became Prime Minister of Italy for a brief period (20 May 1994 to his resignation on 21 December 1994). (24)

Italy's Law 223 of 6 August 1990 now imposes cross-media restrictions but is limited to ownership or control of national newspapers and television. Radio and periodicals are not restricted. Local television and newspapers are not restricted but there is an overarching set of restrictions which will not permit the acquisition of more than 20% of all media resources in Italy.

France(25)

France divides its broadcasting controls into national and regional classifications. The French approach, which is contained in the Law of 30 September 1986, is quite formulaic and can be expressed as follows:

  • To safeguard pluralism at the national level, acquisition of a television, radio or cable permit is prohibited if the holder acquires more than two of the following:

    • one or more television licences covering a population of more than
      4 million;

    • one or more radio licences covering a population of more than 30 million;

    • one or more cable licences covering a population of more than 6 million; and

  • the control of one or more newspapers which cover more than 20% of the total national circulation of comparable newspapers.

A similar formula is applied to regional concentrations of the media.

European Union

Regulation within the European Union tends to revolve around open competition and ensuring the free movement of goods and services. One complicating characteristic of the European Union is that some countries have public broadcasters which are State monopolies, essentially, but which can still comply with common market principles. Cross-media regulation on a trans-national basis is, perhaps, a matter for the future. (26)

Multi-Sectoral Integration

What is instructive in looking at the British and European approaches to cross-media regulation is the added complication of multi-sectoral interests which interact with broadcasting and mass circulation newspapers e.g. advertising, book publishing, music and film production. This is referred to as multi-sectoral integration. It may be worth considering whether it is desirable for other industries to have the potential to 'control' the media, as well. There may be the temptation to either boost the interests of the particular industry through favourable media coverage, or to down-play adverse stories about problems in a particular industry. To date, Australia has concentrated its cross-media rules on conventional media operations.

The integration of print and television appears to be inevitable for both technical and investment reasons. The German media mogul Leo Kirch said in 1988:

    In the entire world, co-operation between print and television is growing: they support each other and enhance each other. If you are going to make television different, you only have one instrument to speed up the process, and that's the press.(27)

Cross-media Influence

It is possible to construct indices which measure the relative capacity of media organisations to influence the Australian population. Appendix 1 of this paper discusses this issue and derives the following measure of cross-media influence.


MEDIA CROSS-MEDIA ORGANISATION REACH INDEX *
Australian Broadcasting Corporation 59.4 Special Broadcasting Service 45.2 Seven Network Ltd (Stokes) 35.8 Ten Group Ltd 32.0 Publishing & Broadcasting Ltd (Packer) 27.8 News Ltd (Murdoch) 20.3 Prime Network 12.2 TWT Holdings Ltd 11.2 Southern Cross Broadcasting Aust. Ltd 10.2 Telecasters Australia Ltd 8.7 APN (O'Reilly) 7.1 Village Roadshow 6.5 Lamb Family 6.2 Fairfax Group 5.9 NBN Ltd 4.7 Sunraysia TV Ltd 3.5 West Australian Newspapers 1.5 Rural Press/JB Fairfax 1.3
* (100 = total control of all media)

    Average daily cross-media population reach = TV pop. reach in households + Pay TV subs + adjusted radio pop. reach in households + average total daily newspaper circulation + average daily magazine circulation. The resulting figure for each media organisation has then been converted to a percentage of the national figure. See Appendix 1 for details.

Ivor Reis (Chanticleer) in the Australian Financial Review of 13 May 1997 has also constructed a table based on the 'share of voice model' confined to private sector media interests. That table shows that PBL (Kerry Packer) has 28.67% share of an aggregated media market (comprising television, radio, newspapers and magazines) while News (Rupert Murdoch) has 20.39%.

Allowing for the fact that such indices do not measure actual media influence but reflect the relative potential to influence the media, it is also worth noting the importance of the national broadcaster (Australian Broadcasting Corporation) and the relative potential to influence available to the Seven and Ten Networks. A more detailed analysis of these issues is found in the Appendix to this paper.

Australia's Foreign Ownership Restrictions

Australia's foreign ownership restrictions are found in the Foreign Acquisitions and Takeovers Act 1975 and Government policy announcements on permitted levels of foreign ownership. Foreign ownership in television broadcasting is regulated separately under the Broadcasting Services Act 1992.

A foreign person must not have control of an Australian television broadcasting licence nor hold company interests exceeding 15%. Two or more foreign persons must not have company interests exceeding 20%. These limits of 15% and 20% really relate to control in the conventional corporate sense of voting shares or directorships. As mentioned previously, there is already the somewhat anomalous situation with the television broadcaster the Ten Network in which the Canadian media company CanWest holds a 57% economic interest, as well as shares amounting to 14.99% of the issued voting shares.

A 'foreign person' is a foreign citizen who is not ordinarily resident in Australia, unless (a) that person has been in Australia for 200 days in the previous twelve months and (b) there is no legal limitation on that person remaining in Australia. (28)

Unlike television, there is no media-specific regulation of foreign investment in radio and newspapers. Foreign ownership of radio and newspapers is regulated under the Foreign Acquisitions and Takeovers Act 1975. This means that a starting point for notification to the Treasurer (via the Foreign Investment Review Board within the Treasury) of a foreign investment proposal is 15%. The Treasurer is guided by the principle of what is in the public interest if a higher percentage of foreign investment is sought. In other words, the 15% point is a notification requirement and it is not a fixed legislative limit. For example, the former Labor Government moved the percentage limit of individual foreign investment to 25% for mass circulation newspapers in April 1993. Unrelated foreign investment (in addition to an individual limit of 25%) was set at 5%.(29)

Proposals for foreign investment in radio are considered on a case-by-case basis. (30) The starting point, of course, is the standard notification requirement of a 15% investment.

The cross-media rules and the specific issue of foreign investment in television are also matters for the Australian Broadcasting Authority. Foreign investment in radio or newspapers (assuming no cross-media issue is involved) is a matter for the Foreign Investment Review Board which in turn advises the Treasurer. Apart from the publication of broad statistics and guidelines, the deliberations of the Foreign Investment Review Board are confidential. This system is not without its critics, who have argued for a more publicly accountable system. The Senate Select Committee on Certain Aspects of Foreign Ownership Decisions in Relation to the Print Media said of the Foreign Investment Review Board in June 1994:

    [I]t may not surprise that the committee did not discover an accountable, open body which consults widely on foreign investment matters. Instead, it found an informally constituted group with an excessive preoccupation with secrecy in its dealings with applicants and parliamentary committees. (31)

Concluding Observations (Options Open to Government)

It is suggested that the following options for cross-media regulation are open to Government:

  • retain the status quo (existing rules) and foreign ownership restrictions;

  • scrap the cross-media rules but retain foreign ownership restrictions;

  • scrap both the cross-media rules and the foreign ownership restrictions;

  • change the cross-media rules to, say, a new 30% of the market restriction, irrespective of the form of the media (e.g. a Sydney-based owner can hold a radio licence, a television licence and a newspaper, provided that his or her share is not more than 30% of the 'national' media market). This would allow 3 main media players to cover 90% of the market with some smaller operators and new players dividing up the remaining 10%; or

  • implement the rumoured changes which surfaced in the week 26-29 May 1997, which suggest that proposed legislative changes may permit Rupert Murdoch (as a foreign investor) increasing his interest in Channel Seven from 14.9% to 25%, Kerry Packer free to acquire the Fairfax newspapers while still retaining Channel Nine under modified cross-media rules, but with a limit of one major metropolitan newspaper and one television station per city per media proprietor (meaning that should Kerry Packer acquire the Fairfax Group he would have to then sell the Australian Financial Review which is part of the Fairfax Group). (32)

On balance, and at the time of writing this paper, it seems more likely that the end result will be the retention of the status quo, at least for this Parliamentary term (due to run to May 1999 or no later than 3 July 1999). This is due, at least in part, to reported backbench concern over the potential for the majority of the mass media in Australia to be subject to undue concentration with an assumed diminution of diversity. The Labor Opposition, as well as the minor parties in the Senate, are likely to oppose any major changes to the cross-media laws.

The existing intersection of regulatory agencies and others which impact on the mass media also needs review. At the Commonwealth level, these agencies are the Australian Broadcasting Authority (broadcasting regulation, cross-media rules and foreign investment in television), the Australian Competition and Consumer Commission (concentrations in the market) and the Foreign Investment Review Board (foreign investment in the print media and foreign investment, generally). Given the importance of the mass media it may be time to establish a single media-specific regulator.

Appendix 1

Measuring Cross-media Influence

by Dr KB Jackson (Social Policy Group)

Introduction

It is, of course, impossible to measure the actual influence of any media organisation, outlet or proprietor on the nation as a whole. What can be measured is the media's potential or capacity to influence the population. In terms of policy utility and administrative simplicity, the most useful available measures are broadcasting reach and press circulation. These are employed in the Broadcasting Services Act 1992 and can be readily analysed through the work of Bruce Shearer, 'Media Ownership Update', Communications Update (no. 129, Feb. 1997: 9-30). Audience surveys or ratings can also be useful in indicating the relative impact of broadcasting services, although their variability and complexity could cause some difficulties if they were intended for regulatory use.

It has been suggested that measures such as these could be used as a basis for cross-media regulation. A similar procedure was recently discussed, but not implemented, in the UK (the 'national share of voice'). There are considerable administrative and political difficulties associated with this approach (see Department of the Parliamentary Library Research Note No. 39, 29 April 1996, The 'Share of Voice' Approach to Cross-Media Ownership Control). The nature of the Australian media industry poses an additional difficulty. Unlike the UK, there is no national audience. Instead there is a collection of metropolitan and regional audiences or markets. It would be difficult to use a national cross-media index as the basis for the allocation of broadcasting licences because it would not accurately reflect the situation in individual areas. It would be possible for a regional proprietor to have a complete monopoly of the local commercial media but still rate an insignificant score on a national scale. If cross-media measures are to have an effective role in the allocation of broadcasting licences, then it would be necessary to create specific indices corresponding to the licence areas.

Although cross-media indices may have the appearance of statistical impartiality, their creation will inevitably involve a large degree of subjectivity-particularly in the selection and weighting of the various media. Whatever the merits of the method, its application cannot be anything but arbitrary. The establishment of a scale representing cross-media influence with statutory limits will inevitably require arbitrary cut-off points (like the current 15% ownership limit). The determination of these limits will be a political decision assessed with reference to existing circumstances. For example, will such-and-such a limit on the scale permit a newspaper proprietor to control a television and/or radio station if there is no other local newspaper or broadcasting stations in the licence area? The question then arises: if the scale and its limits are to be determined by what is

considered acceptable in particular circumstances, then why not simply mandate those circumstances in the legislation ?

The 'New Media' in Context

It is often argued that the convergence of media through new technology has necessitated the development of new measures of media influence. This claim is easily overstated. The impact of new media such as the Internet and pay TV on Australian audiences has been small when compared with the traditional media. The ABS survey of household computer use in February 1996 indicated that some 3.9 million persons used a computer at home in that month. However, only 262,000 used the computer to access the Internet. Nor has the Internet added greatly to the diversity of sources. A survey of online users in December 1996 indicated that seven of the ten favourite media web sites were electronic versions of existing print media and the ABC (Sydney Morning Herald, 24 April 1997). With regard to pay TV, in February 1997 there were approximately 553,000 subscribers to the major services (Australian Financial Review, 13 March 1997). This represents about 8 per cent of households. In comparison, 99 per cent of homes have a TV and 84 per cent watch daily. In 1994 the average weekly time spent viewing TV for households was just under 39 hours. The average weekly time spent listening to the radio for people aged over 10 years was just over 23 hours. For the press, each day just over 3 million papers are sold, with a further one million metro/suburban papers being given away. (ABA, Trends & Issues, February 1996, 'Broadcast Audiences in the 90s' and Shearer, op.cit).

If the cross-media rules are to be amended to take into account the influence of the 'new media', then there is an even stronger case for including existing traditional media such as magazines and suburban newspapers. For example, compare the 262,000 users of the Internet in February 1996 with the one million sales of the Women's Weekly, the 400,000 copies of the Bulletin sold over the same period, or the thirty million suburban newspapers that land on the nation's front lawns each month.

Cross-media Indicators

This appendix uses the work of Shearer and some other indicators to derive two measures of the potential of media organisations to influence the Australian population. The first is Cross-media Population Reach. This is derived from the number of households who are able to receive the signal of television and/or radio stations controlled by a media organisation, plus the circulation of daily, Sunday, regional and suburban press and magazines. The second, Cross-media Audience Share, comprises that part of the audience who are watching/listening to a particular organisation's television and radio stations (as indicated by the ratings), plus paid print circulation (i.e., excluding the suburban press).

The Reach Index (or variations of it) would be most appropriate in regulatory terms as it based on measures currently applied in broadcasting legislation. The Share Index is simply an attempt to reflect the actual, as opposed to the potential, audiences of the various media organisations. It has too many limitations to be anything but illustrative.

The crucial question in the development of any cross-media index is the relative weighting of the two dominant media-television and the press. In this Appendix it has been assumed that a household's daily access to the broadcast signal of a TV channel is the equivalent of a daily unit of press circulation. Daily access to a radio broadcast has been weighted at 21 per cent of a TV broadcast. This percentage reflects the ratio of commercial television to radio licences, the assumption being that the relative influence of a licensee or broadcaster will depend largely upon the range of alternative sources in the same medium. For the print media, comparative equivalence has been achieved by converting the circulation of weekly and monthly publications to a daily average.

Broadcasting licensees and press proprietors have been attributed all of the audience or circulation of the media they control. Where ownership of a media outlet is shared equally, then the audience/circulation has also been shared unless indicated otherwise. It is also possible to attribute audience/circulation in proportion to minority interests, thus reflecting the fact that influence can exist without control. The main effect of adopting this approach is to increase the index rating of News Ltd (Murdoch) and to a lesser degree, PBL (Packer) and Ten (CanWest).

Any cross-media index derived from audience statistics related to ownership understates the potential influence of the three commercial networks. Since the aggregation of regional markets these networks now reach over 90 per cent of the population. The most powerful network is Nine, as it can command the highest percentage of its advertisers' and affiliates' revenue because of the popularity of its programs. Yet Nine's own licence coverage is the smallest of the three networks: 51.2 per cent of the population, compared to Seven's 71.4 per cent and Ten's 64.6 per cent. In reality, the three commercial networks have approximately the same potential to influence the population, rather than the wide range presented by any index derived from audience statistics related to ownership.

The Audience Share Index uses ratings to adjust the population reach figures to reflect the relative influence of the networks. Ratings, or the share of the television viewing population watching a particular program, are an imperfect measure for this purpose. Average network ratings are an artificial construct. Actual ratings can vary with time, season and location, not to mention programs. A better measure of influence would be audience reach, or the percentage of television households who watch a particular station at any stage over a given period of time. However, these figures are not readily available so the ratings figures published by the Australian Broadcasting Authority have been used.

Tables 1 and 2 provide details of the measures and methods used to calculate the indices for the broadcasting and press/magazine sectors respectively. Table 3 contains the Population Reach Index and the Audience Share Index. Each Index has two versions: one represents the audience/circulation of media outlets controlled by each major media organisation; the second also includes attributed audience/circulation in proportion to the minority interests of each media organisation.

TABLE 1: BROADCASTING


Media Organisation TV Max TV Max TV Share TV Share Pay TV Radio Max Radio Radio C-M Pop C-M Aud Audience Audience (% H'holds 4 Subs 5 Audience Adjusted Share Reach Share 1 H'holds 2 viewer ('000) ('000) (% Pop) 6 H'holds 7 H'holds H'holds 9 H'holds (% Pop) ('000) five cap ('000) '000) 8 ('000) 10 cities)3 ('000)
ABC 99.0 6578.6 14 921.0 99.0 1381.5 303.9 7960.1 1224.9 SBS 77.5 5149.9 2 103.0 65.0 907.0 18.1 6056.9 121.1 PBL/Nine (Packer) 51.2 3402.2 31 1054.7 3402.2 1054.7 (9.3) (3411.5) (1147.7) News Ltd (Murdoch) 140.0 140.0 140.0 (10.3) (684.4) (205.3) (824.4) (345.3) Seven (Stokes) 71.4 4744.5 30 1423.4 4744.5 1423.4 Ten Group Ltd 64.6 4292.7 23 987.3 4292.7 987.3 (4.9) (325.6) (74.9) (3.7) (4618.3) (1062.2) Prime Network 24.7 1641.3 1641.3 TWT Holdings 22.7 1508.4 1508.4 Telecasters Australia Ltd 17.5 1162.9 1162.9 Southern Cross Broad. Aust.Ltd 15.4 1023.3 24.9 347.5 1370.8 NBN Ltd 9.4 624.6 624.6 Sunraysia TV Ltd 7.1 471.8 471.8 APN (O'Reilly) 53.9 752.1 752.1 Village Roadshow 62.7 874.9 874.9 Lamb Family 6.9 458.5 27.0 376.8 835.3 Rural Press/JB Fairfax 5.2 72.6 72.6 NATIONAL AUDIENCE 6645.0 553.0 1395.5 8593.5
Note: minority interests (and totals that include minority interests) have been placed in brackets.

  1. The maximum potential audience of free-to-air television stations controlled by the media organisation as a percentage of the population. Taken from Bruce Shearer, 'Media Ownership Update', Communications Update (No.129, February 1997), Table 4. Note that through aggregation the three commercial networks now reach about 90 per cent of the population, although they do not control the regional broadcasters.

  2. As with (1) above, only expressed as households. The Australian Bureau of Statistics estimate of the number of Australian households in February 1996 (6 645 000) has been used throughout.

  3. Average share of the total audience viewing television, by network, five mainland State capital cities, February to November 1994. Taken from the ABA, 'Broadcast Audiences in the 90's', Trends & Issues (No.4, February 1996).

  4. The maximum potential audience multiplied by average share.

  5. Estimated pay TV subscriptions as a percentage of total households. While Foxtel is owned 50:50 by News Ltd and Telstra, News has been attributed all of the subscriptions because it is responsible for the content of the service. Subscription figures are from the Australian Financial Review, 13 March 1997.

  6. Maximum potential audience reach of radio stations as a percentage of the population. From Shearer, Table 6.

  7. Maximum potential audience reach of radio stations, expressed as households and adjusted by the weighting factor for radio (0.21). This is derived from the ratio of TV to radio licensees (1:4.7).

  8. Radio Audience for the ABC and SBS has been adjusted by their approximate share of the audience in the five mainland capital cities in 1994, ie. ABC-22, SBS-2. These are approximations because some ABC and all SBS radio stations rate too low to be listed in 'Broadcast Audiences in the 90s'. Audience share figures are not readily available for commercial radio networks and regional licensees.

  9. These are the combined TV, pay TV and radio audience totals used in the calculation of the cross-media indices. The figures in brackets are the total for both controlling and minority interests combined.

  10. As with (9) above, only adjusted for audience share where possible.

TABLE 2: PRESS AND MAGAZINES

Media Organisation          Daily     Region   Sunday     Av Paid   Suburb   Av Total    Monthly     Weekly   Average        C-M       C-M 
                            Press     Press     Press       Daily   Press       Daily       Mag        Mag      Daily      Reach     Share 
                            Circ 1    Circ 2    Circ 3   Press 4     Circ 5   Press 6     Circ 7     Circ 8     Mag 9    Circ 10   Circ 11 
                            ('000)    ('000)    ('000)     ('000)    ('000)     ('000)    ('000)     ('000)    ('000)     ('000)    ('000) 
PBL (Packer) 1884.0 1842.7 324.5 324.5 324.5 (90.0) (16.0) (130.1) (109.4) (180.4) (135.2) (459.7) (433.9) News (Murdoch) 1620.5 141.2 2569.1 1877.0 3255.4 2342.1 429.3 1442.9 243.6 2585.7 2120.6 Fairfax Group 523.2 93.1 756.6 636.3 1048.6 786.1 786.1 636.3 Seven (Stokes) 42.5 40.5 42.2 122.1 59.7 59.7 42.2 APN (O'Reilly) 196.4 196.4 248.8 203.9 203.9 196.4 West Australian 234.1 7.8 207.3 207.3 207.3 207.3 Newspapers (304.2) (250.8) (250.8) Rural Press/JB Fairfax 99.1 84.9 34.5 89.8 59.3 8.4 98.2 93.3 (87.0) (102.3) (110.7) NATIONAL AUDIENCE 2422.3 634.5 3362.7 3100.5 7422.3 4160.8 4065.9 3675.4 657.2 4818.0 3757.7
Note: minority interests (and totals that include minority interests) have been placed in brackets.

  1. Capital city and national daily newspapers, average daily circulation April-September 1996. From Shearer, Table 7.

  2. Regional daily papers circulation September 1996. From Shearer, Tables 13 and 14.

  3. Sunday newspapers, average circulation April-September 1996. From Shearer, Table 9.

  4. Daily and Regional Press circulation multiplied by six, plus Sunday Press circulation. This total then divided by seven to produce a daily average of circulation for the 'paid press' (ie. excluding the free suburban press).

  5. Suburban newspaper circulation September 1996. From Shearer, Tables 12 and 15. JB Fairfax has been attributed 50 per cent of the circulation of Eastern Suburbs Newspapers.

  6. Daily and Regional Press circulation multiplied by six, plus Sunday and Suburban Press. The total then divided by seven to produce a total press daily average. It has been assumed that the Regionals publish six times a week and that, on average, Suburbans publish once a week. The figures in brackets are the total for both controlling and minority interests combined.

  7. Circulation of monthly magazines, from Shearer(Table 17). These figures refer only to the top thirty selling monthly/weekly magazines (circulation of 80 000 or more). This is why the ABC, which publishes a number of magazines, does not feature on the list.

  8. Circulation of weekly magazines. From Shearer, Table 17. These figures refer only to the top thirty selling monthly/weekly magazines (circulation of 80 000 or more). However, two rural weekly newspapers, The Land (Murdoch) and the Weekly Times (Rural Press), have also been included in this category for convenience. PBL and News Ltd have each been attributed 50 per cent of the circulation of TV Week.

  9. Monthly and weekly magazine circulation adjusted to a daily average, ie. monthlies by 12/365, weeklies by 52/365. Includes the two rural weeklies referred to in (8) above.

  10. These are the average daily print circulation figures used to calculate the Cross-media Population Reach Index. They represent the sum of both Average Daily Total Press and Average Daily Magazine circulation. The figures in brackets are the total for both controlling and minority interests combined.

  11. These are the figures used to calculate Cross-media Audience Share Index. They represent the sum of the Average Paid Daily Press and Average Daily Magazine circulation. The figures in brackets are the total for both controlling and minority interests combined.

TABLE 3: CROSS-MEDIA INDICES


MEDIA ORGANISATION CROSS-MEDIA POPULATION REACH CROSS-MEDIA AUDIENCE SHARE INDEX * 1 INDEX * 2
Controlling Controlling Controlling Controlling Interests and Minority Interests Only and Minority Only Interests Interests
ABC 59.4 9.1 SBS 45.2 0.9 Seven (Stokes) 35.8 10.9 Ten Group 32.0 34.4 7.4 7.9 PBL (Packer) 27.8 28.9 10.3 11.8 News (Murdoch) 20.3 25.4 16.9 18.4 Prime Network 12.2 TWT Holdings 11.2 Southern Cross 10.2 Telecasters Aust. Ltd 8.7 APN (O'Reilly) 7.1 Village Roadshow 6.5 Lamb Family 6.2 Fairfax Group 5.9 4.7 NBN Ltd 4.7 Sunraysia TV Ltd 3.5 West Aust Newspapers 1.5 1.9 1.5 Rural Press/JB Fairfax 1.3 1.4
* (100 = total control of all media)

  1. Average daily cross-media population reach = TV Audience in households + Pay TV subs + (Radio Audience in households by 0.21) + average daily newspaper circulation (ie. [combined Daily and Regional Press circulation times six plus Sunday and Suburban Press circulation]/7) + average daily magazine circulation (ie.weeklies by 52/365 plus monthlies by 12/365). The resulting figure for each media organisation has then been converted to a percentage of the national figure.

  2. Average daily cross-media audience share. This measure is intended to reflect more closely the actual TV and radio audiences of the major media organisations, together with their share of the daily press that has a paid circulation (ie. excluding suburban newspapers). TV and radio audiences have been adjusted according to the share or ratings figures where possible.

Endnotes

  1. See the discussion in Final Report of the Seminar on Promoting Independent and Pluralistic Arab Media, UNESCO, Sana'a, Yemen, 7-11 January 1996. The report notes the intrinsically tolerant nature of Islam, the perception of which has at times become misunderstood because of some extremes of nationalism, and the attitude of some western media to decline articles on Islam (pages 29-31).

  2. Drawn from T. Congdon, A. Graham, D. Green, and W. Robinson The Cross Media Revolution: Ownership and Control, John Libbey & Co. Ltd, London, 1995.

  3. See M. Armstong, M. Blakeney, and R. Watterson, Media Law in Australia (2nd edn), Oxford University Press, Melbourne, 1988: Chapter 11.

  4. Sections 51(xx) and 51(1) of the Constitution, respectively.

  5. The policy of allowing up to 25% individual foreign ownership of mass circulation newspapers was announced by the Treasurer (Hon John Dawkins) and (see 'Foreign Investment Policy: Mass Circulation Newspapers', Press release No. 32, 20 April 1993).

  6. Australian Broadcasting Tribunal, Australian Music on Radio, Sydney, 1986: 29.

  7. Hon. Charles Davidson, Second Reading speech, Postmaster-General, Broadcasting and Television Bill 1960, House of Representatives, Hansard, 12 May 1960: 1705.

  8. Section 122, Broadcasting Services Act 1992.

  9. Minister for Communications and the Arts (Hon Michael Lee), 'Mr Packer and John Fairfax publications', Press release, 24 April 1995, and S. Lewis 'Media ruling leads to unrest', Australian Financial Review, 26 April 1995.

  10. Section 615 of the Corporations Law.

  11. Furness, 'Asper faces Ten ownership limbo', Australian Financial Review, 7 April 1997.

  12. Ries, 'Asper suffers the foreign complaint', Australian Financial Review, 23 May 1997.

  13. Legislation currently before the Parliament proposes to add an additional criterion to the 50% of circulation to exclude from the cross-media restriction a small local newspaper which may fall within the 50% circulation test but the circulation for which does not exceed 2% of the population in the broadcasting licence area (see Broadcasting Services Legislation Amendment Bill 1997).

  14. Hon. Ian Sproat, Minister of State for National Heritage, 'Responsible Liberalisation', The House Magazine, no. 725 vol 21, London, July 1, 1996.

  15. For more information on Asian satellites pay television and digital technology see the Research Notes issued by M. James, Asian Satellites Broadcasting Pay Television to Australia, No. RSE 6 96-97, December 1996, and A Digital Television and Radio Future, No. RSE5, October 1996, Science, Technology, Environment and Resources Group, Information and Research Services, Department of the Parliamentary Library, Canberra.

  16. Dr K. Jackson, The 'Share of Voice' Approach to Cross-Media Ownership Control, Research Note No. 39, Information and Research Services, Department of the Parliamentary Library, Canberra, 29 April 1996.

  17. See 'Selected Overseas Ownership and Control Rules-Appendix J' in Ownership & Control of Commercial Television: Future Policy Directions, Volume 2, Department of Communications, Australian Government Publishing Service, Canberra, August 1986.

  18. See Legislative History of the Telecommunications Act of 1996, Public Law 104-104, in Congressional and Administrative News, West Publishing Company, St Paul, USA, March 1996.

  19. Ibid. (See page 108 of the Legislative History part of the publication).

  20. Ibid. (See pages 10-19 of the Legislative History part of the publication).

  21. Ibid. (See page 175 of the Legislative History part of the publication).

  22. The summary of German law has been taken from an English language text and may not reflect any recent changes in the various German laws.

  23. The information on Germany was drawn from V. Porter and S. Hasselbach, Pluralism, Politics and the Marketplace: The Regulation of German Broadcasting, Routledge, London, 1991.

  24. See A. Palmer, Who's Who in World Politics, Routledge, London, 1996: 37.

  25. The summary of French law has been taken from an English language text and may not reflect any recent changes in French law.

  26. The information on Italian and French laws was drawn from Barendt, E. Broadcasting Law: A Comparative Study, Clarendon Press, Oxford, 1993.

  27. See Porter, V. and Hasselbach, S. Pluralism, Politics and the Marketplace: The Regulation of German Broadcasting at Endnote 23: 121.

  28. Australia's Foreign Investment Policy: A Guide for Investors, Department of the Treasury, Australian Government Publishing Service, Canberra, September 1992: 1.

  29. Treasurer's Press Release No. 32, Foreign Investment Policy: Mass Circulation Newspapers, 20 April 1993.

  30. Australia's Foreign Investment Policy: A Guide for Investors, Department of the Treasury, Australian Government Publishing Services, Canberra, September 1992: 7.

  31. Australia, Senate Select Committee on Certain Aspects of Foreign Ownership Decisions in Relation to the Print Media, Percentage Players: The 1991 and 1993 Fairfax Ownership decisions, Canberra, June 1994.

  32. Radio Program AM, Australian Broadcasting Corporation, AAP Summary, 29 May 1997.

 
 

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