The proposed shake-up of Australia's media ownership rules could herald a new era of opportunities for media companies, both old and new.
But the one time media magnate, James Packer, has signalled that he's not yet ready to jump back into the game.
Listen to James Packer's hesitation about buying back the traditional Packer farm broadcast on this morning's edition of AM.
Mr Packer, whose majority interests are now in gaming, was speaking before the release of an interim review into Australia's media regulation which recommends abolishing cross media ownership rules.
The Government commissioned review was set up to work out how Australia's media regulations should adapt in the digital and media fractured age.