Today is the first official day of Australia’s brave new media world.
A world where anyone can now own two out of three main media – newspapers, television and radio – in a single market. A world inhabited by fewer media owners with greater power, more influence and more financial clout. A world where small media will become even smaller dwarfs in the shadow of a handful of powerful media conglomerates with mighty political power.
Many of the large media consolidation deals were completed last year when the new laws were announced but not proclaimed, but from today those and other deals will continue to unfold until the Government’s brave new media world is a completed work of art. By then, there will be five major media owners in each capital city (instead of 10 or 11 that now operate in Sydney and Melbourne) and there will be two or three vast, media-owning gorillas.
Welcome to the new world where power, money and political influence will make a perfect storm. You’ll read all about it. Maybe.