Crossbench senator Nick Xenophon will put a new counter offer to the federal government in a bid to break an impasse over planned media ownership reforms.
Senator Xenophon is confident a deal can be struck and a parliamentary vote held on the package next week.
There should be light at the end of the tunnel because the government had agreed to have the competition watchdog investigate the power of Google and Facebook.
"I'm still willing, and my colleagues are still willing, to negotiate in good faith," Senator Xenophon told reporters in Canberra on Thursday.
The government's legislation has been stalled in the Senate with the government needing the Xenophon bloc of three votes to overcome the opposition of Labor and the Greens.
Senator Xenophon says any changes to allow for consolidation in the media should come with diversity provisions and ways to boost jobs.
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