The media needs to regulate itself.

Richard Branson: I think the media has to regulate itself, and the government should only intervene if the media becomes anti-competitive. What we need is more competition. And I think you can get more competition, you’ll have a lot more balanced media.

I think what governments have got to be careful about is letting too much media be owned by too few people. And of course, when those media barons support the government, they are out to be allowed to get bigger and bigger and bigger. And it takes a brave government to stand up to them. In Britain, we’ve finally got a government that is, I think, drawing a line in the sand with Rupert Murdock, and has referred a number of decisions that he has taken recently to the Monopolies Mergers Commission. And I think that was a brave government to do that.

Recorded on: July 5, 2007 at The Aspen Ideas Festival