Media reform waiting too long in wings: MP

A federal Liberal MP is warning regional media will go the way of old-fashioned bookstores and traditional taxis without urgent changes to industry rules.

Angus Taylor wants the so called reach rule - which prevents broadcasters from reaching more than 75 per cent of the population - to be repealed, in order to save local TV networks.

"If we don't act quickly to ensure a smooth transition, large parts of our media sector are at risk in the same way the traditional music industry, bookstores and taxis are at risk," he writes in Fairfax Media on Tuesday.