“𝗔MBITIOUS BEYOND MEASURE…” Australia’s richest woman Gina Rinehart has revealed her influence behind the nation’s biggest media takeover deal — while also hinting at explσsive behind-the-scenes SECRETS driving her powerful statement…
Aussie billionaire Gina Rinehart emerges as key player for Austereo ownership
Australia’s richest person Gina Rinehart has revealed her company was secretly involved in Southern Cross Austereo merge.
Aussie mining magnate Gina Rinehart has been outed as the surprise key player in the recent ownership of Southern Cross Austereo (SCA).
Southern Cross Media famously merged with Seven West Media back in January to create one of “Australia’s most prominent media companies”, as per the Austereo website. The merge now sees Channel 7, Triple M and 2Day FM all under the one umbrella.
On Wednesday, the billionaire revealed a twist in the ASX release, telling the share market that her company, Hancock Prospecting, was involved in the takeover, after signing an agreement with former Seven executive Bruce McWilliam to fund the investment.
Mining magnate Gina Rinehart has been revealed as key player in the new ownership of Southern Cross Austereo. Picture: Steve Pohlner
It has been reported that the former Seven commercial director spent almost AU$26m purchasing Southern Cross in the past two months.
The deal opened up ownership to 44 million shares or the equivalent of more than nine per cent, in the event that McWilliam can’t meet his end of the deal, as per The Daily Telegraph.
Together with McWilliam, Rinehart now sits as the TV and radio network’s second biggest owner behind long-time media mogul, Kerry Stokes.
Together with McWilliam, Rinehart now sits as the Austereo network’s second biggest owner behind Kerry Stokes. Picture: Colin Murty
Just last week, Rinehart made headlines for slamming Prime Minister Anthony Albanese’s capital gains tax, claiming the recent changes are ill-considered and will have a negative impact on the Australian economy – inevitably forcing local business offshore.
“If you reduce the incentive and ability for people to invest, you reduce future discoveries, future mines, future jobs, future revenue and future growth for Australia at a time when our country sure needs it,’’ she told The Australian.
Gina Rinehart remains Australia’s richest woman. Picture: NCA NewsWire / Phil Gostelow
“Additionally, what is also being missed in the CGT increase is that people are investing money they have already paid tax on through PAYG and other taxes, and yet any profits they make on that reinvestment is now going to be subject to even higher taxes.
“New Zealand points out that it has no capital gains tax and suggests publicly (that) struggling Aussies invest in New Zealand instead. Investment is internationally mobile.”
As Executive Chairman of Hancock Prospecting, a massive privately-owned mineral exploration, extraction, and agricultural company, Rinehart remains Australia’s richest person, with a personal net worth estimated of over AU$41 billion.
Western Australia’s iron ore laid the foundation of her immense wealth as well as her aggressive expansion into critical minerals, agriculture and her status as a top Wagyu beef and dairy producer.
Source: https://www.news.com.au/entertainment/celebrity-life/aussie-billionaire-gina-rinehart-emerges-as-key-player-for-austereo-ownership/news-story/17392a6bcff2a98edd9f36fbd9731aff