Senator CONROY (Victoria—Minister for Broadband, Communications and the Digital Economy, Deputy Leader of the Government in the Senate and Minister Assisting the Prime Minister on Digital Productivity) (14:30): I thank Senator Ludlam for his question and for his ongoing interest in this portfolio area. Today's announcement by Fairfax Media reflects the significant changes that have occurred and that are continuing to take place in the communications and media landscape, both domestically and internationally. It is important that firms which operate in the media and communications sector continue to innovate and adapt to the changes that digital and online technologies are delivering. More broadly, as the economy becomes more and more digital, the effect of this change is being felt across many sectors of our economy. The government's investment in the NBN will both support and accelerate this; as some jobs disappear, new jobs will be created. Senator Brandis: A Warsaw-Pact-style statement! Senator CONROY: Yes, a Warsaw-Pact-style statement. A report from McKinsey Global Institute—a front for the Warsaw Pact—in May 2011, estimated that, for every job lost due to the internet, 2.6 jobs are created. That is not to suggest for a moment that anyone has no feelings towards the 1,900 workers who will lose their jobs over the next few years, because that is a concern. But, as the McKinsey Global Institute report suggests, our economy is growing and opening up in other areas. I was asked about the Convergence Review. We are giving consideration to all of the issues recommended by the Convergence Review. We will finalise those and bring them forward as we have indicated. Are we accelerating it due to today's announcement? I do not foresee that. (Time expired)