<
https://theconversation.com/gina-rinehart-and-southern-cross-austereo-what-do-billionaire-media-buyouts-mean-for-democracy-283971>
"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% 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 8% increase in share prices for the company
– an uncommon feat in the media industry, which is often overlooked by
speculative investors.
The deal – worth about $26m – doesn’t give Rinehart an immediate stake in the
company. But she could secure a 9% share if her backed partner, former Seven
network executive Bruce McWilliam, defaults on their agreement."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
