McArthur, who now runs strategic planning consultancy, Planning For Results, will invite views from media owners, advertisers and media agencies.
The ABC currently publishes national newspaper figures once a month. Last week, it announced it would expand reports to include ABCe audited data for newspaper websites.
Regional newspaper and consumer magazine figures are both published on a six-monthly basis, based on average circulations over the period.
NatMags chief executive Duncan Edwards this week reiterated calls for magazine publishers to follow his company's lead in providing sales on an issue-by-issue basis in an interview with Media Week TV.
McArthur's review is due to conclude in three months and his findings will be assessed by the ABC Council, which is made up equally of media buyers and sellers.
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