Hmm. My dream network.
For a start, would be channel 25, ABC Local.
Incorporating community TV under the ABC banner, as well as mixing in a time shifted (and more localised) ABC News at 6/8:30, would give the community broadcasters a bit more stability in the current climate. Would also include some state/territory parliament discussion and proceedings, and some state sports leagues.
This, coupled with the obligatory shutdown Fishcam, set to ABC Local Radio, would give it just enough of an edge.
Secondly, and probably more importantly, I would also suggest a channel 35, SBS Asia.
This would provide a dedicated channel for everything from Korean Dramas and Japanese Gameshows to Bollywood movies, giving a free to air choice for many Asian community members.
A feature of this channel would be a news service geared toward the community (at 7pm) providing an Asian view on current news, as well as a 7:30-style current affairs show, giving a different perspective.
Tie-in’s would be made with SBS PopAsia as needed to provide extra content.
My final suggestion would be Channel 40, a fourth commercial network, to rival 10, 10Peach, and 9Go, and willing to push the boundaries with a youthful focus.
Modelling it somewhat similar to E4 and BBC3 in the UK, with a bright, fun and playful mix of entertainment, news, and music, as well as Big Brother, John Safran, and similar kinds of barrier pushing, would keep them on their toes.
Channel 41 (as a complementary channel, similar to Fusion in the US, and a slight competitor to SBSVice) would be a little more news oriented, but also contain time shifted and companion show content.