Communications Bill Could Limit Prime Media Assets
New rules governing cross-media ownership, which are being considered by the Government as part of the forthcoming Communications Bill, could set an upper ownership limit of five “prime media assets” on UK companies.
According to a report in today’s Times, proposals put forward by Scottish Media Group, which include the compilation of a list of some 31 media UK companies felt to be of national importance, are likely to be included the draft Communications Bill, which is expected next month.
The list, would be constructed and updated by the newly formed communications regulator Ofcom, includes media properties such as the Financial Times, Carlton Television and Virgin Radio. Under the proposals, no company would be able to own more than five of these “prime assets” and revenue thresholds preventing a company from owning more than 30% of any single media sector would be imposed.
A spokeswoman for SMG said: “We are arguing for the relaxation of the current media ownership regulations, they are restrictive and outdated and prevent companies like SMG from maximising their growth potential.”
She added: “We would be delighted if our proposals were included in the forthcoming Bill, but ultimately the decision rests in the hands of the Government.”
Shadow Secretary of State for Culture Media and Sport, Tim Yeo, today added to the debate surrounding the Communications Bill by criticising the Government for its delay in “liberalising the strict competition laws.”
He said: “More than three months have passed since the Government’s Consultation on Media Ownership Rules was published. Yet we are still waiting for any sign that ministers recognise the urgent need to amend the current competition rules.”
Yeo, who has openly expressed his view that it is “clearly wrong” that the media is still subject to special competition controls (see Tories Accuse Jowell Of Dithering On Digital), plans to introduce a special Ten Minute Rule Bill aimed at pressurising the Government into relaxing the current regulations.
DCMS: 020 7211 6200 www.culture.gov.uk SMG: 0141 300 3000 www.scottishmediagroup.com
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