Former Nationals leader and deputy prime minister Tim Fischer has urged Tony Abbott to rethink his opposition to media law reform, saying he is being inconsistent with his government's pledge to cut red tape.

Mr Fischer, who has become a spokesman for battling regional television networks, told The Australian Financial Review that four regional broadcasters – Prime Media, WIN Corp, Southern Cross and Imparja​ – were at risk of disappearing unless the government abolished the obsolete reach rule and the two-thirds ownership rule.