budget, page-6

Hi Valueinvestor

The Senate voted to establish a parliamentary inquiry into the challenges faced by journalists due to the increasing influence of digital companies such as Google and Facebook. The committee will meet for the first time on Wednesday and the inquiry is expected to probably drag on until December this year.

This inquiry is not linked to the Media Reform Bill and is completely separate. Having said that though, the findings of the committee, and as information becomes available, could very well influence how the members of the Senate vote on the Reform Bill.

Pauline Hanson and One Nation have stated that they are not yet convinced on the change to the 2 out of 3 rule but support the remainder of the Bill.

http://www.theaustralian.com.au/bus...e/news-story/d040a9f89483ca044f2e978903ac6b7c

The Communications minister has a few more weeks to try and convince the Senate members to support his bill before they sit in June. The big question now, is that without the support of One Nation, will the Government and the media industry be willing to compromise on dropping the 2 out of 3 rule in order to get the bill finally passed.

Personally I think that when it comes to the crunch, the lure of getting rid of the broadcasting licensing fees and other changes will be enough for them to drop the 2 out of 3 amendment from the Bill.