Meanwhile, standards for bloggers, who are an increasing feature of the news media landscape are completely unregulated.
The commission has proposed a single regulator for all news media which would be "independent of both government and the news industry". Under its proposal news media could only continue enjoy privileges such as access to closed court proceedings and exemptions from a raft of legislation including the Privacy and Defamation Acts if they submitted to the new body.
Appointments to the regulator would be by an independent panel and would be mostly non-news media figures.
The regulator would be recognised by statute and funded by contributions from members and the state.
The commission has proposed two options regarding membership. The first is that it would be entirely voluntary. However, the commission believes major news outlets would join in order to maintain their legal standing as news media and the associated privileges.
Under the second option, it would be compulsory for publishers who produced news as a business or commercial activity and those providing broad or general news services to a wide audience.
Under both options, bloggers could voluntarily join and would therefore qualify for news media privileges which they are generally denied at present.
The commission said the large majority of New Zealanders publishing on the internet would not be covered by the new regulatory regime but they and the news media would remain subject to existing laws around defamation, contempt of court, and the breach of name suppression and copyright.
The commission was also asked to examine whether those existing laws were effective "in the new media environment".
The public and interested parties have until March 12 to make submission's on the commission's proposals.