The Australian explains that Australias media laws enacted 31 years ago for a different era that pre-dated Google, Facebook, YouTube and Netflix have not kept pace with technological innovation.
It points out that due to the passage of the Turnbull governments Broadcasting Reform bill, archaic restrictions that disadvantaged the Australian media in competing with online rivals have been repealed.
The key reforms in the package are about media ownership rules. The reforms will remove the so-called 'two-out-of-three' rule, which prevented a media company from operating a TV station, radio station and a newspaper in the same market.
The change also removes the 75 percent reach rule. This rule prevented any TV network from broadcasting to a licence area with a combined population of more than three-quarters of Australians.
The paper says that the legislation also scraps free-to-air broadcasting licence fees. Reforms to the anti-siphoning list will allow a range of media companies greater scope to broadcast high-profile sporting events.
The Australian argues that these reforms will allow the Australian media to pursue business strategies to compete.
