News Corp director of corporate affairs Campbell Reid said the legislation had been drafted with the assumption that media organisations were"cavalier"when publishing.
"I would ask the agencies ... where can they point out the actual tangible example of a responsible news organisation,such as represented here,having done the wrong thing,or risked a national security organisation,or put a soldier or a policeman's life in danger?"Mr Campbell said.
He said readers would not tolerate the publication of news that brought harm to the country or put people at risk.
"Can you imagine the level of outcry that would come from ordinary Australians if we covered something that put the lives of security operators or policemen or armed forces at risk?"
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News Corp Australasia executive chairman Michael Miller said the country"may not be living in a police state but we are living in a state of secrecy".
"We are asking for changes to allow the media to fulfil its role,"Mr Miller said.