There are strong arguments to go for the New Zealand model.
All broadcasters (TV and radio) are eligible for grants from the (ex-)licensing budget.
Funding for the state broadcaster is rigidly accounted for. Any programs sold overseas (or on DVD, etc) must have their grants paid back.
In the case of private broadcasters, they are made to pay interest on the grant too, but that's still better than the previous situation where they had the same model, but the state broadcasters (TV and radio - both commercial activities, unlike the BBC's stations here) got the money without any further obligations or reporting requirements and used most of it to prop up their commercial radio network.
Biting the hand that feeds IT
