If News Corp Australia was happy with proposed changes to Australia's media laws, you'd know there was something wrong.

As it is, recently appointed executive chairman Michael Miller has expressed "disappointment" that only the reach and 'two out of three' rules - the latter prohibits a company from owning more than two types of traditional media in a market - were to be changed.

No mention of anti-siphoning rules, which favour free-to-air TV, or the opportunity for pay TV companies to participate in broader media ownership, two areas of frustration for the company which owns half of pay TV company Foxtel.

The cabinet of the Turnbull Government is reported to have voted in favour of changes to media ownership laws, the 'reach' and 'two out of three' rules proposed by communications minister Mitch Fifield on Monday night.

News recently bought rights to NRL football for $1 billion.

Miller's statement said the company was disappointed that, "despite the broad recognition that Australia's media laws are outdated, the government is proposing that only the reach and two out of three rules be changed.

"The fact that broader media reform issues such as the anti-siphoning regime are not part of the proposal makes it difficult to accept this as genuine media reform. It will be even more disappointing if at the end of the process only minimal changes were achieved."

News' national daily The Australian says News and Seven West Media - which also owns WA daily the West Australian and is negotiating to buy the Sunday Times from News - do not believe the changes are being made quickly enough in the disruptive and changing digital landscape.

The Australian report makes scant acknowledgement of contrary views, but Fairfax Media has welcomed the proposed changes: "Fairfax has consistently supported media law reform and welcomes cabinet's decision to remove outdated restrictions in the present legislation," a Fairfax statement says.

Regional publisher APN News & Media - also part-owned by News - comes out in favour of the progress. "APN's view on media reform has always been to ensure that the interests of the community content our regional print and digital assets provide are recognised and protected," says chief executive Ciaran Davis.

"Regional media in Australia continues to provide a unique and valued news service to their communities and any further changes to media reform must be to the benefit of all."

As a radio broadcaster - and Davis recently came to the post from a radio background - APN calls for equal treatment of radio and TV if broadcast licence fees are reduced. "Radio did not benefit from the previous reduction in fees in 2012 and as an industry, we remain in discussions with the minister on this issue," he says.

So News and Seven have different reasons for opposing the proposed changes, as each player predictably voices their private interest. But we'd say that this may indicate that Fifield may have got it about right.

It's just going to make it an interesting election year.

Peter Coleman