THE regulation of the print media has been thrown into disarray after Seven West Media pulled out of the self-regulation body and announced its intention to regulate itself rather than participate in a larger entity.
The group, which encompasses Seven Network, Pacific Magazines and West Australian Newspapers, withdrew as the self-regulator, the Australian Press Council, said it had secured more funding.
Press council chairman Julian Disney confirmed the remaining eight publisher members had agreed to double the press council's annual funding to close to $2 million.
Former Federal Court judge Ray Finkelstein proposed the idea of a government-funded media regulator earlier this year as part of his review of the print media.
Mr Finkelstein's report criticised the council for being under-resourced and slow, and is now being considered by Communications Minister Stephen Conroy as part of a wider review of the media.
Professor Disney said in a short statement that "the money is there to strengthen the effectiveness of the standards and provide some clarity around them".