Australia passes changes to media ownership laws

AUSTRALIA PASSES CHANGES TO MEDIA OWNERSHIP LAWS
[SOURCE: Associated Press]
Parliament passed new laws Wednesday to allow more foreign investment and mergers in Australia's media companies, in the first overhaul of ownership controls in the industry in more than 20 years. The legislation was passed by the Senate last week. It was passed Wednesday by the House of Representatives, where Prime Minister John Howard's center-right government has a clear majority, by 77 votes to 55. The new laws come into effect between February next year and January 2008. Media laws introduced in 1985 bar foreign companies from controlling more than 15 per cent of a television company and more than 25 per cent of a newspaper publisher. Those restrictions have been eliminated, although foreign investment in the media sector would require government approval.
http://cnews.canoe.ca/CNEWS/MediaNews/2006/10/17/2058739-ap.html