With our national media reduced to six dominant groups, and key groupings such as the Murdochs, the Gordons, the Stokes and James Packer working in concert in varying permutations across influential media, it's time to reconsider how we regulate media diversity.

The last overhaul of media ownership laws was in 2006, when the Howard government liberalised them as part of a wider set of media reforms. The reforms went through on the vote of Steve Fielding after Barnaby Joyce crossed the floor, despite of a list of sweeteners offered to the Nationals on the regulation of regional content.