Mr Diller said more regulation was needed

A leading media figure in the US has attacked the media deregulation plans that could allow foreign firms to buy UK TV channels.

Barry Diller, who launched Rupert Murdoch's Fox channel in the US, said the television industry needed "more regulation, not less".

He said a concentration of power would be bad.

"There are real dangers in complete concentration. The conventional wisdom is wrong - we need more regulation, not less," he told a National Association of Broadcasters conference in the US.

Mr Diller's warning comes as the Lords debate the Communications Bill, which proposes ending many of the restrictions on media ownership.

His comments echo those of ITV chief executive Stuart Prebble, who recently said it would be wrong if Rupert Murdoch was able to buy terrestrial broadcaster Five.

'Biggest mistakes'

He told a Royal Television Society debate the government's decision to lift a ban on Mr Murdoch owning more than a 20% stake in a terrestrial broadcaster was "craven".

Stuart Prebble says the government has bowed to Rupert Murdoch

"I think it should not be allowed to happen. It will be one of the biggest mistakes in the history of broadcasting," Mr Prebble said.

He said he believed Mr Murdoch would use Five to force people to use his other media services.

"When it comes to football, we will see the penalty kicked on Channel Five and we will have to pay to find out if it's a goal or not," he said.

He added the government "seem to have allowed this bill to be written by Rupert Murdoch".

Mr Murdoch currently owns four national newspapers through his News International company, as well as Sky satellite television..

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The Communications Bill would allow non-European companies to buy stakes in Channel 5 or ITV franchises.

Culture Secretary Tessa Jowell has repeatedly denied the rules allowing "media groups" to buy stakes in TV companies was specifically about Mr Murdoch.

She said it could also apply to the owners of the Daily Mail or the Daily Mirror.