We can see what happens after Federal Labor came to power after several terms of being ignored/shat-on by MSM and what they did with the concentrated media, of which one of those players is a foreign corporation known to influence democracy: zilch. Zero plans to do anything.
What, is Labor trying to secure a second term by continuing to be anti-Labor voters and LNP lite? They are literally in power. They can immediately break up the media overnight by passing a law, in fact, make it retrospective too. It's that easy. Don't believe me? Look at Labor+LNP collusion to exclude public servants from super entitlements via a retrospective law rushed overnight in October. It was so chilling but it opened my eyes as how Labor is deliberately doing nothing about MSM by choice.