Australia's route to a new media legislative environment passed its first step this afternoon after it was approved by the Senate. Next stop the House of Represenatatives.
Opinions are divided over what level of M&A activity this will prompt. Today's Oz says most of the big players will opt to wait and see. But others have said there'll be a fast and furious frenzy of buying.
The biggest objections to the changes are about what this will mean for diversity. But even that is not a clear cut matter. Some have argued that diversity would come from fewer, rather than more, media companies.
We'll know soon enough.