Ministers yesterday dismissed calls from a joint committee to delay any changes to media ownership rules for another four years.

The committee, led by Lord Puttnam, claimed that the new media watchdog, OfCom, would need until 2006 to establish itself in the market before proposed changes on foreign ownership were implemented.

However, Tessa Jowell and trade secretary Patricia Hewitt were unenthusiastic about any delay.

"We still firmly believe that our proposals on foreign ownership will give the best of both worlds - high levels of new investment, high standards," the ministers said in a joint statement.

"None of the media players would want another three years of uncertainty," an official is quoted as saying.

In an interview with this website, David Estein dismissed suggestions that Rupert Murdoch is set to bid for Channel 5.