Probe 'will not hit Murdoch empire'

An inquiry into the Australian print media will examine increasing regulation but will not go as far as breaking up the nation’s largest newspaper empire owned by Rupert Murdoch’s News Corp, a government minister said today.

The government today released the terms of reference of the inquiry promised after the New York-based media company closed its top-selling British tabloid News of the World in July over illegal phone hacking allegations. News Corp owns 70% of Australia’s newspapers through its subsidiary, News Ltd.