Competition law may be breached: Graeme Samuel (9 May 2024)
Article summary: In the recent discourse on Australian competition law, concerns have been raised about potential breaches due to increased consolidation in the media sector. The focus is on Kerry Stokes’ decision to augment his control of Nine Entertainment Holdings, prompting scrutiny under the Australian Broadcast Regulation. Graeme Samuel, former ACCC chairman, suggests that such consolidations could risk breaching competition laws due to the high costs and concentration of power they entail.
The article also highlights the broader implications of such moves on market competition and the regulatory frameworks that are supposed to police them. Samuel's commentary underscores the challenge of enforcing these laws as media giants expand their control, stressing that current efforts may be insufficient to curb the dominance of such industry heavyweights in the context of upcoming elections.
Amid these concerns, Independent MP Kate Chaney, representing the constituency of Curtin, is noted for her perspective on these issues. Chaney, who is not directly involved in the media consolidation case, instead provides insights into the general landscape of competition and regulation. Her focus is particularly on how such conglomerations could affect public access to diverse and independent media, reflecting her commitment to ensuring fair competition and transparency in the industry.
Chaney’s comments come at a critical time as Australia grapples with the balance between business expansion and maintaining a competitive market landscape. Her position underscores the importance of robust regulatory frameworks that not only prevent monopolistic behaviours but also safeguard the public interest in a diverse and dynamic media environment.
Related article: Chaney backs media probe SUBIACO POST (24 Sep 22)
