Does Gina Rinehart’s bite of a chunk of Fairfax make her an oligarch?
In an article that first appeared in The Conversation, Mark Rolfe wonders whether the mining magnate’s move could turn Fairfax into something resembling America’s Fox network.
Australia’s richest person Gina Rinehart has moved to increase her stake in Fairfax Media, owner of The Age, Sydney Morning Herald and a number of radio stations. Rinehart has already shown her desire to play a role in public life, campaigning against former Prime Minister Kevin Rudd’s aborted mining tax. She has also demonstrated a willingness to make media investments to ensure her pro-business worldview is promulgated.
What does this latest move by Rinehart mean?
Are we seeing the rise of a resources-based oligarchy that trumps democracy in Australia? Or is this simply a new iteration of an age-old effort by rich people to influence debate that affects their interests?
Rinehart will have no trouble with Fairfax on the ideology. Corbett is himself smack in that camp, aligned with quite aggressive Christian conservatives and generally totally onside with the sort of crap that Stutchbury is promoting in the AFR right now. (Have a look at the puffery on Toyota/IR today as an obvious case in point: the real news story is the Optus decision on page 3).
Corbett’s fight with Rinehart, as it is with anyone, is his ego.
How much more does this woman want? I sincerely hope that Mark is right in his comment that there won’t be any dramatic change in the media as a result of this woman’s insatiable appetite for power. I also hope that members of the media who have a social conscience have the strength of their convictions to fight against Rinehart’s attempts to control the agenda. I just couldn’t tolerate more of the likes of Andrew Bolt/Alan Jones with their aggressive and opinionated personalities and one-eyed views of the world. A healthy economy is important; and so is a healthy social conscience. I have read elsewhere that Rinehart is not involved in any philantropic activity and that says it all for me.
Speaking of appetite, and finally, Madame, a wafer thin mint . . . it’s only wafer thin.
Ms Rinehart loves Andrew Bolt – who got a new show on Channel 10 last year?
Ms Rinehart felt George Negus was too left – who lost a show on Channel 10 last year?
There’s even talk of her wanting The Project to drop their “left wing” stories.
Be afraid people, be very afraid.
I am just glad that Ms Rinehart has not yet made a bd for a controlling interest in Mumbrella yet.
Have a look at this link and you will see what is on the agenda. https://www.getup.org.au/campaigns/mining/monckton/monckton-speaks-to-mining-industry-share-this-video?t=dXNlcmlkPTkwMzkwMSxlbWFpbGlkPTU1Nw%3D%3D.
Mum says the investment was made with the spare change by the door, and Dad is super pumped to be turning Fairfax into proper newspaper publishers.