Fairfax Media takeover sparks Australian ownership debate

http://www.guardian.co.uk

Fairfax Media takeover sparks Australian ownership debate

Mining tycoon Gina Rinehart becomes biggest shareholder in group that owns the Sydney Morning Herald and the AgeAustralia’s richest person, the mining tycoon Gina Rinehart, has become the biggest shareholder in one of the country’s oldest and most important newspaper groups, sparking debate about the concentration of media ownership. Rinehart, chairwoman of the mining giant Hancock Prospecting, is estimated to be worth more than A$10bn.