Rinehart, Monckton and the media

19 Jun

According to GetUp:

This week mining billionaire Gina Rinehart became the largest shareholder in Fairfax, having already bought a stake in Channel Ten. But  this new video reveals this move is bigger than one woman’s ambition — it’s part of a coordinated and very deliberate strategy, with climate skeptic ‘Lord’ Monkton seen here advising a room full of mining executives on how the industry must gain control of Australia’s media.

 

The Australian has also reported that Rinehart is after three board seats at Fairfax, but likely to be offered two. The board currently has eight directors, but can appoint up to 12.

Rinehart has also requested rights to hire and fire the editor. According to The Australian:

Mrs Rinehart is said to believe her substantial shareholding in the company, in contrast with other directors, entitles her to be treated differently.

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