Ten Network chief, Nick Falloon, has revealed he would be interested in acquisitions across the media spectrum – radio included – if the Government eases cross media ownership rules.
He has told Nine’s ‘Business Sunday’ that the media sector needs to be freed up so companies can grow:
“We are delighted that that now looks like a likely outcome sometime in the next six to nine months.
“For some time, we as a management team and CanWest (Ten’s parent company), have certainly been supportive of this need to look to try and grow the company into the future and so – with this unblockage – if you like, in the system those opportunities will present themselves.”
When asked what sectors of the industry Ten is interested in – print, radio or tv – Falloon replied: “Any or all of the above, and others.”
On the same program, ACCC chair, Graeme Samuel, said the media industry is changing rapidly, with newspapers no longer the sole domain for classified advertising: “And, we may well see that the market definitions have changed as convergence is occurring.
“They may have changed from our view two years ago. They will certainly be changing as we move into the future.”
He says print media should no longer be looked on as being separate from electronic media, that pay tv should no longer be viewed as a separate market from free to air tv if multi-channelling is allowed to the free to air channels.
“There are all sorts of changes occurring in technology and regulations, which are going to have significant impacts on our definitions of the market.”