There's been too much coverage of this to go into detail. Suffice it to say, go read it for yourself. Start here.
Now I'm off to spend the weekend reading the Press Release and checking out the blogs of vested interest.
In a nutshell, FTA TV gets protected (no great surprise there), Pay TV gets a little more access to live sport, National Party members are placated, and industry journalists and players are once again shown that they're not really across what's actually happening out there.
Open it all up! Give a fourth TV channel, promote access to multi-channels by third parties, doesn't really matter. TV and Radio are only a generation away from losing their stranglehold completely and slipping into being just another media distributor.
This and even more hyperbole as the weeks continue.
Oh yes, the next step in the "Chisolm for Chairman" campaign took place yesterday. Between that, the legislation, a whistlestop visit from the new M.D. (nice guy. Look forward to seeing what he's got in mind for the future) and juicier powers for ACMA it's been a heady 24 hours in the industry.