Yes, if the bill passes then they will be able to own all three...

Yes, if the bill passes then they will be able to own all three mediums but it also depends on the 5/4 rule being covered. Adelaide and Perth for example may require ACCC approval due to them already being highly dominated by one company.

‘5/4’ rule (the ‘minimum voices rule’)
At least five independent media ‘voices’ must be present in metropolitan commercial radio licence areas (the mainland state capital cities), and at least four in regional commercial radio licence areas.