Pauline Hanson says the government has agreed to undertake a "competitive neutrality" inquiry into the ABC and SBS in exchange for One Nation's support for media reforms.
Senator Hanson says she has also received assurances the government will ask the public broadcasters to detail the wages and conditions of all staff earning more than $200,000 a year.
"Considering it is public monies that funds the ABC, in all fairness to the public, this must be disclosed on what their wages are," the One Nation leader told reporters in Parliament on Tuesday.
The government has also agreed to legislate a requirement to change the ABC Act by inserting the words "fair and balanced".
Another condition of the support of the One Nation senators is an inquiry into the practices of the national broadcasters and how it affects commercial media organisations.
"They are... moving into areas where it does impact on commercial TV stations and the buying up of sports events," Ms Hanson said.
"That is not in the best interest of the public."
One Nation has also secured an extra four million dollars in support for community radio stations, as well as measures to increase the industry's capacity and development of skills.
The Media, Entertainment and Arts Alliance (MEAA) has slammed the deal as desperate.
"The ABC must not be a political football. It already has a charter that sets out its responsibilities, and inquiry after inquiry has amply demonstrated how well the public broadcaster performs its duties, despite the constant hectoring of a politically motivated few who mount their attacks in order to appeal to their own political base," MEAA CEO Paul Murphy said.
"For Australia's media industry to be subject to such political manoeuvring in order to pass a media reform package designed to promote the interests of a handful of media moguls does an enormous disservice to the Australian community."
The Greens and Nick Xenophon Team remain locked in negotiations with the Turnbull government over its plans to reform media ownership.
The key sticking point is the repeal of the two out of three rule, which bars a person owning licences for TV, radio and newspapers in a single market.
All non-government parties have expressed concern about the change, saying it could reduce Australia's media diversity, which is already concentrated in a few hands.
Senator Xenophon has signalled he is close to finalising a package of amendments, which he says would improve the quality of journalism and breadth of news coverage.
The government needs 10 extra votes to get its bill through the Senate.