Ai-Media Technologies (ASX:AIM) recommended that the Australian Communications and Media Authority commit to a two-year captioning regulatory enforcement pause and focus on resuming its suspended metric model captioning trial, according to a Tuesday filing with the Australian bourse.
The response from the technology company follows an investigation report published by the regulator that found an alleged technical breach on AI-Media's legacy service delivered to its customer Channel Seven Adelaide, the filing said.
According to the report, about seven minutes of a one-hour news broadcast on 7News Adelaide on June 20 was found to be in breach of the Broadcasting Services Act 1992 regarding live captioning quality standards.
The company attributes the breach of captioning standards on 7News Adelaide to a technology failure, which, despite human efforts to resolve it, led to poor captions in seven out of 41 program segments.
"This is a sledgehammer regulatory approach to a non-existent problem," co-founder and Chief Executive Tony Abrahams said.
The company's shares rose nearly 3% in recent Tuesday trade.
Price (AUD): $0.81, Change: $+0.02, Percent Change: +2.55%
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