The Conversation
International · 54 mins ago
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A right mess: how mining, media and politics interests are combining to influence public debate in Australia
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Quality 72/100
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Billionaire mining heiress Gina Rinehart is financing a $26 million acquisition of a 9.5% stake in Australian media company Southern Cross by former News Corp executive Bruce McWilliam, with a security deed potentially allowing her control if he defaults.
A right mess: how mining, media and politics interests are combining to influence public debate in Australia
Gina Rinehart, billionaire heiress to the Lang Hancock mining empire, 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 Aus
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