CHRISTMAS has come early to Australia's commercial television channels in the form of a $240 million gift from Communications Minister Steven Conroy.

This year he will give the networks a 33 per cent rebate on their annual licence fees of $287 million and next year a 50 per cent rebate.

Although the announcement is headed ''Government to protect Australian content on commercial television'', the broadcasters will be required to do no more than meet existing Australian content requirements in return for the rebates.

Senator Conroy said Australian networks faced higher licence fees than networks overseas and were facing challenges including the switch to digital television.

''[Broadcasters] are faced with a converging media environment and [the] switch to digital television, as well as the impact on revenue created by a decline in advertising spend as a result of the global financial crisis. The government recognises that the commercial broadcasters will require assistance to maintain Australian content production, while investing in a new delivery platform.''