The Week: Media News - Tories to deregulate media

Regulations on media ownership will be abolished by a Tory government, a move the party is claiming will be on the same scale as the Big Bang deregulation of the City in the mid-80s.

Cross media ownership rules will be eliminated and media regulator Ofcom would be stripped of its ability to make policies under the Tories. Jeremy Hunt, the Shadow Culture Secretary, said that "heavy handed" regulation was responsible for a crisis in the media industry.