By Shawn Lim

The media industry in Australia will undergo an upheaval after the government’s proposal to reform media laws and remove restrictions on media ownership was approved.

The reforms have abolished the “reach rule”, which prevented a media owner reaching more than 75% of the population and the “two out of three” rule, which restricted media companies owning newspaper, radio and television stations in the same market.

The government will also look into the impact of technology powerhouses Facebook and Google on journalism as both companies generate advertising revenue through aggregating news content and whether there should be a levy imposed for doing that.

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Source: The Drum