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‘An obsessive part of the vision’: Inside Rinehart’s media buy-up
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Gina Rinehart’s latest foray into media ownership is part of a longer strategy of political influence she has been shaping since she started cultivating student politicians in the 1970s.
Almost 50 years ago, long before he became a Liberal minister and major fundraiser for the party, Michael Yabsley was contacted “out of the blue” by a young Gina Rinehart.
At the time, Yabsley was a first-year university student. He says he was one of a “whole cohort” of conservative student activists approached by Rinehart, “the most prominent of whom were Michael Kroger, Peter Costello and Eric Abetz…”
Gina Rinehart debuts new media proprietor era alongside Roger Cook, Basil Zempilas at awards
The country’s richest person went incognito at Perth’s Crown casino last week, sporting a cape and diamante-encrusted Australian flag clutch.
Gina Rinehart celebrated her seven-year streak atop the Australian Financial Review’s Rich List by going incognito at the Western Australian of the Year awards at Perth’s Crown on Thursday night.
All the stars were there! WA Premier Roger Cook, Opposition Leader Basil Zempilas, Woodside’s Richard Goyder and BHP’s Tim Day. It was a “glittering crowd” documented by home-town The West Australian and stablemate Seven News.
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Gina Rinehart and Southern Cross Austereo: what do billionaire media buyouts mean for democracy?
Rinehart’s Southern Cross Austereo move is not her first foray into the Australian media industry. Cameron McTernan unpicks why the wealthy invest in media companies when they often offer poor returns to investors?
Gina Rinehart, Australia’s richest person and one of the world’s most powerful mining magnates, recently helped finance a deal to acquire a 10 per cent stake in Southern Cross Austereo – the second largest commercial media broadcaster in Australia. The company owns many major media brands including the Seven Network, West Australian Newspapers and Triple M.
The announcement was followed by an eight per cent increase in share prices for the company – an uncommon feat in the media industry, which is often overlooked by speculative investors.
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