A New Media Fund is to be established to support local, regional and national public service journalism.
It was one of the 49 recommendations from the Future of Media Commission that were accepted by government today.
The licence fee will be re-worked, but not scrapped as was recommended - over fears of political control over media.
The Independent Broadcasters of Ireland, which Radio Kerry is a member of, has welcomed the publication of report.
It says the recognition of the public service content of independent radio stations is a game changer, and something it’s been seeking for some years.