October 30, 2006 at 1:54 am by Tom Lydon
The Australian exchange traded fund (ETF), iShares MCSI Australia (EWA), includes the country’s major media companies. Earlier this month the Australian senate decided to remove restrictive media ownership laws and will allow companies to control two forms of media outlets in one city. Also, new regulations allow foreigners to buy Australian media companies. Australia has lagged other countries in both freeing up its media sector and attracting private equity, so both of these factors coming into play simultaneously is good news for investors, as The Street.com writes.
EWA could benefit from these regulations as the ETF holds top media companies John Fairfax Holdings and Publishing and Broadcasting. The ETF also holds strong sectors including banking, real estate and mining, because Australia has a resource-based economy.
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