Proposed Seven West Media and Prime Media merger
The Minister for Communications, Cyber Safety and the Arts, the Hon Paul Fletcher MP, said:
“The proposed merger of Seven West Media and Prime Media Group represents a response to the changing conditions in the Australian media sector. Consumers today can access an unprecedented array of content – from internet-based providers as well as television, radio and newspapers – and Australian media businesses need to adapt if they are to stay competitive.
“Recognising these changing market conditions, in 2017 our Liberal National Government passed landmark media reforms to repeal the ‘75 per cent rule’ and the ‘2 out of 3 rule’ in the Broadcasting Services Act - and it is these reforms which make possible the merger announced today.
“The 2017 reforms included important safeguards for local news. Because of these measures, this proposed merger will deliver a community dividend by strengthening news offerings in communities around regional Australia.
“The Morrison Government recognises the importance of Australian media companies evolving their business models to be in the strongest possible position to sustainably deliver Australian stories to local, national and international audiences.”