Gina Rinehart Invests A$26M in Southern Cross Media, May 28

Australia’s richest person Gina Rinehart has invested A$26 million to acquire a 10% stake in Southern Cross Media, the company that owns Channel 7 and Triple M radio. The mining billionaire bankrolled former Seven executive Bruce McWilliam’s shareholding. This marks Rinehart’s third foray into media ownership, following previous stakes in Ten Network and Fairfax. The move signals a broader trend of billionaires acquiring media assets to gain influence over editorial direction.

A Billionaire’s Media Playbook

Rinehart first entered media in early 2011 when she bought a 10% stake in Ten Network Holdings. Within months she attempted to influence programming, complaining to Ten’s then-chief executive about The Simpsons and arguing it was unsuitable for families. The show continued until 2017. She later acquired a 15% stake in Fairfax before exiting both companies. Her pattern shows she views media stakes as a tool to shape content and messaging.

Why Southern Cross Matters

Southern Cross Media owns Channel 7, Triple M radio, and other broadcast assets across Australia. The A$26 million investment makes Rinehart the network’s second-largest owner. Former Fairfax chair Roger Corbett said it would be difficult for Rinehart to hold a significant shareholding without expressing her views on how the media organisation reports news. Her influence extends beyond Southern Cross. She holds shares in the company that owns Fox News in the United States and remains a major advertiser on News Corp and Sky News Australia.

Billionaires and the Media Landscape

Rinehart’s move reflects a global trend of billionaires acquiring legacy media to amplify their political and ideological views. She is a donor to right-wing lobby group Advance Australia and recently gifted Pauline Hanson’s One Nation a private plane. Her media stakes align with her public political positions. This pattern mirrors other billionaires worldwide who view media ownership as a path to power and influence beyond their core business interests.

Final Thoughts

Rinehart’s A$26 million Southern Cross investment confirms her strategy to control media narratives. With a 10% stake and a track record of editorial intervention, expect her influence over Channel 7 and Triple M content to grow significantly.

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