Ten welcomes dumping of media reforms

TEN Network has expressed relief at the federal government's decision to dump controversial changes to media laws.

The government withdrew four bills affecting media ownership and regulation that had sparked anger from media organisations and failed to gain crucial support from independent MPs.

"These bills were fundamentally flawed, contained numerous significant drafting and operational problems and could not realistically be implemented in their current form," a Ten spokesman said in a statement.

However Southern Cross Austereo chief executive Rhys Holleran criticised the decision.

"We are not surprised by today's decision, we're disappointed as we've been a consistent supporter regarding the removal of the reach rule - a policy which we believe is out of date," Mr Holleran said.

Two uncontroversial bills, out of the original six-bill package unveiled in a surprise move by Communications Minister Stephen Conroy last week, were passed by parliament.

Those bills dealt with Australian content quotas and the permanent reduction of commercial television licence fees.

Media stocks were slightly stronger in afternoon trade, with Seven West Media and Southern Cross up three per cent and Fairfax Media up around 0.4 per cent.

Ten shares were 1.4 per cent lower at 34.5 cents at 1536 AEDT.

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