The Conversation
International · 10 hrs ago
✦ 75← Left
A right mess: how mining, media and political interests are combining to influence public debate in Australia
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Quality 75/100
Partisan intensity 68/100
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← Left ✓ Fair headline
Mining billionaire Gina Rinehart is funding a 9.5% stake acquisition in Southern Cross Media through Bruce McWilliam, a former News Corp and Seven Network executive, in a $26 million arrangement that could give her control if McWilliam defaults on a security deed.
A right mess: how mining, media and political interests are combining to influence public debate in Australia
Mining billionaire Gina Rinehart is
bankrolling the acquisition of a 9.5% stake in Southern Cross Media by Bruce McWilliam, who worked for Murdoch’s News Corp for nine years and is also a former Seven Network executive.
This venture is costing Rinehart $26 million. It does not buy her a direct stake in Southern Cross, but if McWilliam cannot uphold his side of a security deed he has signed with her, she could take control of it.
Southern Cross is one of Australia’s biggest media organisations.
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