West Australian Initial Colin Barnett says he is not involved by Gina Rinehart's transfer to enhance her stake in Fairfax press. The mining magnate, who is Australia's richest individual, has now become Fairfax's Wholesale NHL Jerseys vast majority shareholder, obtaining almost 13 per cent of the company's inventory.
Previously studies place the figure at 10 per cent but it has Toronto Maple Leafs Jerseys given that emerged she now holds 12.eight for each cent.
She also has a stake in Channel ten.
Mr Barnett says Ms Rinehart is incredibly wealthy and investing in a array of different ventures.
He says it is good to see Western Australians succeeding.
Minor outdated Wesfarmers acquired Coles, Kerry Stokes acquired Channel 7 nationally, now Gina Rinehart is heading to personal Fairfax, he mentioned.
The relaxation of Australia, get utilised to it, this is where the funds is.
The rest of Australia is likely to have to get utilised to the fact that far more and more Chinese Wholesale Jerseys national corporations are heading to be owned or have considerable shareholdings from Western Australia, that's what taking place.
Mr Barnett also claims he does not think the transfer will current issues for Fairfax's editorial independence.
I don't think in any way that would threaten the independence, editorial independence, of the Fairfax team, he explained.
Media analysts say the move by the mining magnate is created to increase her political influence.
This early morning, Communications Minister Stephen Conroy stated that Ms Rinehart is in search of to exert her influence but was not breaking the legislation as it stands.
He is flagging the probability of new guidelines to consist of a community fascination exam on media variety.
Ms Rinehart has long opposed the Government's Minerals Source Hire Tax (MRRT) on iron ore and coal initiatives.
The Greens Senator Christine Milne says there need to be much more restrictions on cross-press possession.
We are now reaching a point where it would be possible for two really rich folks, Gina Rinehart and Rupert Murdoch, to nearly management the press in Australia, she said.
Now, that would be and should be a matter of significant concern to Australians simply because we want to make confident we shield the integrity of our democracy. report=2012-02-03data
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