[tobz1991]

Within this last week, the world's richest woman, Gina Rinehart, has increased her ownership of Fairfax Media Limited, the company who produces publications such as The Age, The Australian Financial Review, and the Sydney Morning Herald. As a result, she is entitled to be a member of the board of directors for the company, which is considered the more credible side of the media, The Age and the Financial Review being particularly prominent for the more informed members of our society.
The issue is that Rinehart is a CEO of a minerals company, and as a result, she is a part of a group who craves any exposure possible to publicly attack a controversial piece of legislation which seeks to price carbon, and also to attack the Australian Labor Party, who is currently the ruling party in this country.
What do people think about this? I invite those who have taken the time to read this to analyse this issue as much as possible, I understand that people in the USA or other places world wide don't necessarily follow Australian news or Australian politics, but if there's anyone who's been following this story and also the job losses at Fairfax, please chime in!

[GandalfTheGrey]

one of the key questions is whether or not she will be allowed editorial input. She has demanded this as well as for having two director seats instead of one. So far Fairfax has refused editorial input and allowing only one director seat.

There is one cause for optimism for the sake of media diversity, and that is the fact that 70% of Australian newspapers are owned by News LTD which is predominantly right wing, pro big-business. From a business point of view it wouldn't make sense for fairfax to try and eat into that market, when there is surely a healthy demand for more balanced and professional journalism. If fairfax under Reinhart is determined to go down a pro-mining and/or trashy-tabloid route, who is left to pick up the demand for serious and balanced journalism? It just doesn't make sense for fairfax to abandon their niche market.

[AFAIK]

I am grateful that London has attracted so many billionaires and is able to maintain multiple dailies. Concentration of ownership is a major source of bias in the media.