From yesterday’s report on News Ltd’s MX and whether it is a new newspaper: “MX
is not subject to consideration under the government’s foreign
investment policy. The relevant policy applies to the establishment of
a new business. It does not apply to the expansion of an existing
business. The reference to a new newspaper in clause 34 of the policy
summary is a reference to a new newspaper business.”

Word at
Holt St is that News Ltd has formed a separate subsidiary – just as
HWT, Queensland Press, etc, are subsidiaries – to run the two existing MXes, with Brisbane sure to follow with a third.

Isn’t that “a new newspaper business”?