Three principal criticisms can be made of our proposal for a 15% cap. First, this is just an arbitrary figure.
No, actually, it isn’t. It’s very carefully chosen.
UK media businesses, including computer games and book publishers as well as TV, radio and press, have revenues of about £32bn a year. The enlarged News Corp would have had about 20% of this total,
It’s less than News Corp has and more than anyone else has. Thus it achieves the principle aim of shrinking News Corp. It’s not arbitrary at all.
However, it fails at a deeper level too. You’re counting only that part of the media that is monetised. And rather missing the developments of the last 10 years which have led to the demonetisation of large parts of said media.