Australia to tighten media ownership

Wednesday 28 June 1995 23:02 BST

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Australia to tighten media ownership

Canberra announced plans to tighten cross-media ownership rules, capping a controversial stake held by Rupert Murdoch in the Seven Network and Kerry Packer's holding in Fairfax Group. The Australian Broadcasting Authority is to be given the power to determine whether non-voting shareholders should be deemed to control companies where their interest is linked to company performance.

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