politics

Gina Rinehart finances acquisition of nearly 10% stake in Southern Cross Media

27 Mayıs 2026The Guardian

Gina Rinehart, Australia's wealthiest individual, has financed Bruce McWilliam's acquisition of a nearly 10% stake in Southern Cross Media for $26 million. This marks Rinehart's return to the media industry after previous investments in Fairfax and Ten.
Although she does not hold a direct stake, Rinehart could gain control of the shares if McWilliam violates their agreement.
Southern Cross Media is a major player in the Australian media sector, owning several prominent brands. Rinehart's previous media investments have been controversial, often stirring debates about media concentration and the influence of billionaires in journalism.
Rinehart's involvement in Southern Cross Media highlights the ongoing intertwining of wealth and media influence in Australia. This strategic financing could allow her to exert significant control over the media landscape without direct ownership, raising questions about the implications for media independence and d…

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This article is for informational purposes only and does not constitute financial advice.

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