June 21, 2012 at 12:12 pm. GINA RINEHART: Does not recognise Kickett as her half-sister Mining magnate Gina Rinehart is likely to succeed in wresting control of Fairfax Media, but it … There are a hundred other, healthier companies where this is possible, if that was genuinely her aim. 1423219787. The mining magnate recently increased her stake to 18.67% in Fairfax and has reportedly asked for three board seats and more editorial control. Iron Ore Billionaire Gina Rinehart Sells Stake in Fairfax Media Devon Pendleton. Channel 10 is just the vehicle.”. Gina Rinehart’s investment in Fairfax is not aimed at a financial return, David McKnight from the University of New South Wales writes. In 2012 BRW magazine named Rinehart the world's richest woman, with an estimated net worth at A$29.17B. Rinehart — … Rinehart, Australia’s richest person, sold her 14.99% stake at 86.75 Australian cents a share, below the 96 cents closing price. Rinehart is already a major shareholder in the newspaper, radio and digital company which publishes The Sydney Morning Herald, The Australian Financial Review and The Age in Melbourne. But some might argue that Gina Rinehart will use Fairfax to push her own … The mining billionaire Gina Rinehart is selling her A$306m (£156m) stake in Fairfax Media after more than four years of fraught relations with the owner of the Sydney Morning Herald, according to reports. https://newsroom.unsw.edu.au/.../why-does-gina-rinehart-want-control-fairfax The Fairfax family retained control of the business until late in the 20th century. But Gina Rinehart’s investment in Fairfax is not aimed at a financial return. Geoff Gallop, University of Sydney. Australia's richest woman confirmed Friday she is the largest single shareholder in Fairfax … She’s proposed nuclear explosions for open-cut mining, funded tours by climate deniers and called for bringing in cheap migrant labour to work her mines. Gina Rinehart isn't interested on Fairfax for its investment potential. Gina Rinehart Credentials After studying one year of economics, Rinehart dropped out of Sydney University because, as she told BRW in 1982, “they were teaching all the wrong things.” [1] Background Georgina “Gina” Hope Rinehart, Australia’s richest citizen according to Forbes with a personal fortune of $21.5 billion, is the Chairman of Hancock Prospecting and daughter of iron magnate Updated Updated 26/08/2013 Share Rinehart’s move coincides with Fairfax announcing it is to axe 1900 jobs, close printing presses and erect online paywalls in the wake of falling advertising revenues and falling circulation, a phenomenon common to many newspapers currently in circulation in the developed world. But Gina Rinehart’s more likely course of action would be to march into chairman Roger Corbett’s office with a deal to swap her Fairfax shares for The Sydney Morning Herald, The Age and The Australian Financial Review.. That’s right; a share cancellation for three newspapers and their digital operations. The issue with Gina Rinehart’s share in Fairfax, is that one of the most powerful sectors in Australian society, the mining industry, were seeking to dominate one of the important accountability mechanisms in a democracy though economic means. Gina Rinehart has threatened to sell her stake in Fairfax Media if she is not offered seats on the firm's board "without unsuitable conditions". Now Australia’s richest person, Gina Rinehart, has bought the largest individual stake in Fairfax Media, which runs the Sydney Morning Herald, The Age and the Australian Financial Review, plus various radio stations and regional papers. Rinehart is already a major shareholder in the newspaper, radio and digital company which publishes The Sydney Morning Herald, The Australian Financial Review and The Age in Melbourne. Georgina Hope “Gina” Rinehart is well on her way to becoming the world’s richest person .The only child of iron ore magnate Lang Hancock, Rinehart owns three-quarters of Australian mining giant Hancock Prospecting that she inherited from her late father in 1992. By AAP News Feed 24 October | 2012. Video, Surferâ s â shockâ reunion with long-lost board, The beauty ideal fuelling an illicit drugs trade. -- … Close friend and one of the few journalists she approves of Andrew Bolt wrote at the time, “Rinehart is on a mission. New Posts; Support PSB; Member List; Calendar; Forum; OFF TOPIC; Yada Yada Yada; If this is your first visit, be sure to check out the FAQ by clicking the link above. After Gina Rhinehart Buys Fairfax. Iron ore billionaire Gina Rinehart is attempting to snare a cornerstone stake in Fairfax Media, offering $192 million. MELBOURNE—Australian mining billionaire Gina Rinehart's company confirmed Friday that she has become the biggest single shareholder in the country's oldest newspaper publisher, Fairfax … Michael Smith editorial on Gina Rinehart and Fairfax Tuesday, 22 July 2014 I mention this story in the editorial above - luckily for Ben, Royce and Nick they only committed criminal offences in their work for Fairfax, imagine if they'd done something serious like … Most of the talk around the Fairfax share raid has centred around a board seat. You could perhaps write a letter to the editor or maybe even pen an opinion piece or start your […] Gina Rinehart's history at Fairfax. After Gina's mother's death in 1983, Rose Lacson was hired as a maid by Rinehart, but began an affair with the late Hancock instead. FAIRFAX MEDIA shareholder Gina Rinehart has taken aim at one of the news group's most senior journalists over sources used in a biography of the mining billionaire. For most people, the choices are limited. One of the benefits of a takeover is that inefficient and ineffective work practices get abolished. Fairfax shares closed up 4¢ at 96¢ on Friday afternoon. Since then she also acquired a substantial stake in Fairfax Media. Rinehart was a major player in the media and no longer limits her interests to the mining business. In February 2012 she increased her stake in Fairfax to over 12 per cent, and became the largest shareholder of the company. Considering News Corp and FairFax Media owned by Rupert Murdoch and Gina Rinehart are the most significant forces in the media in Australia (and in the case of News Corp, worldwide). Post. Australia's richest person, iron-ore magnate Gina Rinehart, has moved to increase her share in the influential Fairfax media group. Gina Rinehart's interest in buying Fairfax shares is more likely aimed at the media group's political influence than its investment potential. INVESTORS say mining magnate Gina Rinehart could be behind a $25 million trade of Fairfax shares, upping her stake in the media company. Should we be worried if she buys a controlling interest in the company that publishes the Age, Sydney Morning Herald and the Australian Financial Review? By … Rinehart last week increased her stake in struggling Fairfax Media, Australia's second biggest publishing company, from 12.6 percent to 18.7 percent. Achiziționarea de către Gina Rinehart a acțiunilor Fairfax Media Limited] - și creșterea participației în cadrul companiei - a ridicat câteva întrebări privind natura controlului în societățile cotate la … GINA Rinehart has opened up a new front in her war for a boardroom seat at Fairfax Media, blaming chairman Roger Corbett for the group's woes. But Gina Rinehart's more likely course of action would be to march into Roger Corbett's office with a deal to swap her Fairfax shares for the Sydney Morning Herald, The … Gina Rinehart strikes back at Fairfax board. New Posts; Support PSB; Member List; Calendar; Forum; OFF TOPIC; Yada Yada Yada; If this is your first visit, be sure to check out the FAQ by clicking the link above. Let's hear it for our billionaire mining magnates, the likes of Andrew ''Twiggy'' Forrest, Clive Palmer and Australia's richest woman, Gina Rinehart. Mrs Rinehart… Journalists love nothing more than speculating about the future of media companies, so Gina Rinehart has created an avalanche of commentary with her high-profile raid on Fairfax Media. As the nation watched Canberra last Friday, the mining magnate put her remaining 15% of the company on … You may have to register before you can post: click the register link above to proceed. BBC News reports that mining mogul Gina Rinehart, one of the world's richest people, has reduced her stake in troubled Fairfax Media, Australia's second largest media group.. Ms Rinehart, whose wealth is estimated at more than $29 billion, has been trying to win control of three board seats at Fairfax, and wants control over the hiring and firing of editors. Gina Rinehart isn't interested on Fairfax for its investment potential. On her way to becoming the richest woman on the planet, writes David Leser, the “Iron Maiden” has fought numerous court cases and now finds … Gina Rinehart's interest in buying Fairfax shares is more likely aimed at the media group's political influence than its investment potential.