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Print media decision



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THE TREASURER

PRESS RELEASE JOHN KERIN MP

No. 98

STATEMENT BY THE TREASURER, JOHN KERIN M P .

PRINT MEDIA DECISION

At its meeting tonight, Caucus passed the folowing resolution regarding foreign investment in Australian media.

'Caucus supports Australian ownership and control of Australian media outlets. In regard to print media, Caucus notes that a House of Representatives Committee will consider these issues among others. Accordingly Caucus would have the opportunity to

consider any recommendation in this area after the Committee reports to Parliament.

In the context of the current bidding for the Fairfax Group, Caucus supports the proposition that any outcome should not extend foreign control of Australian media. Accordingly it requests the Treasurer in considering any matters placed before

him by the Foreign Investment Review Board to ensure such foreign control does not eventuate. As part of the process Caucus opposes any level of foreign voting equity above 20 per cent. It further requests the Treasurer to keep Caucus briefed

on developments in this matter.'

10 October 1991

For more information contact:

Simon Grose

06 2777 900

I C O :vi Μ Ο N W EALTH P A R L I A M E N T A R Y LIB R AR Y MiCAH