Australia poised to reshape battered media sector

Australia is planning its most radical shake-up of media ownership laws in two decades in a move that could lead to billions of dollars of mergers and reshape an industry in financial distress.

Reform proposals circulated by prime minister Tony Abbott’s government have been welcomed by the industry. However, they are prompting concern among academics who warn that they could undermine diversity in the news media and tighten Rupert Murdoch’s grip on the industry. Murdoch’s News Corp controls more than 60 percent of Australia’s newspapers.