Executives are pushing for loosening of ownership laws to enable mergers in regional areas as traditional media businesses battle to stay competitive in the digital era. Changes would build on legislation passed in 2017,which has allowed for consolidation of companies across audiences and platforms.
Mr Fletcher said the recent announcement of aplanned merger between metropolitan-based Seven West Media and regional broadcaster Prime Media reflected a strategy to survive and he wanted to wait and see before pursuing further regulatory changes.
"I think in the first instance,we need to see how that plays through because of course it will also go to the question of that merged business'competitive strategy and the competitive strategy of other players,"he toldThe Sydney Morning Herald andThe Age.
"The government legislated to allow new options. We've seen those options being taken advantage of to allow Australian media businesses to build scale and be more competitive. And so I think,that's a process that we want to see play through."
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Prime chief executiveIan Audsley has been the lead figure lobbying for further regulatory changes which could allow the major broadcasting licence holders in regional areas to merge. Prime's deal with Seven raises the question of what strategies other players WIN and Southern Cross will pursue.
Mr Fletcher is meeting industry figures in Wagga Wagga on Wednesday for consultations. Among other issues,the gathering will discuss theAustralian Competition and Consumer Commission's recommendation for grants to support local and regional journalism. The idea faces resistance among some in the industry who are worried about editorial influence.