It began its first review in 2003 and released its latest blueprint for the future of PSB provision last week. The Government will now use this document, allied with Stephen Carter's imminent Digital Britain report, to shape proposals for the future of UK broadcasting.
The regulator's blueprint will be incorporated in Digital Britain and the final draft of Carter's report in June will outline the Government's response to Ofcom's recommendations and dictate what changes are needed to the Communications Act. Ofcom is adamant that action is needed within the next 12 months, as the current model is "unsustainable".
Britain's major broadcasters have come out of the process well. ITV, buoyed by the Office of Fair Trading's positive noises last week about easing the contract rights renewal mechanism, will benefit further from a relaxation of its PSB commitments - to the tune of about £40m - to add to a possible £40m CRR windfall.
And Channel 4 boss Andy Duncan feels he has got what he has been pushing the Government for: a recognition that its current business model is unsustainable and help with forging partnerships - or even merging - with BBC Worldwide or Five. Indeed, C4 is already in informal negotiations with BBC Worldwide about ways they can work together, no doubt prompted by the Government, which makes a tie-up with Five the less likely option. For its part, the BBC may have swerved top slicing the licence fee.
However, the developments may not be such good news for media agencies and advertisers. A further consolidation of TV sales points will help persuade ITV it can be more aggressive in its trading stance and also bolster Channel 4's negotiating position.
Broadcasters have obviously been doing an excellent job lobbying government. Perhaps it's time clients and agencies upped their game and got in the ear of Carter, whose influence can be read between the lines of Ofcom's recommendations and whose Digital Britain report will further entrench his ideas in the framework that will shape the future of Britain's media landscape.
steve.barrett@haymarket.com