The convergence of media and communications technologies has radically altered the nature of content-related competition in the media sector and undermined the effectiveness of the present regulatory framework. One of the issues identified for consideration in the Convergence Review – Emerging Issues Paper of July 2011 was whether cross-media ownership rules are still necessary in a multi-platform environment. The purpose of the present paper is to examine the continuing relevance of the ‘2 out of 3’ rule in the Broadcasting Services Act 1992 (Cth) in the context of the recommendations outlined in the Convergence Review – Final Report of April 2012. The article seeks to evaluate the extent to which the recommended reforms would serve to enhance regulatory parity and support media diversity within an increasingly converged media landscape.

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