Billionaires are Investing in Australian Newspaper Publishers

By: nasdaq.com

Billionaire Gina Rinehart recently invested $146 million in Fairfax Media, the publisher of the Sydney Morning Herald and the Financial Review . Known as the “Iron Lady,” Rinehart is the heir of mining magnate Lang Hancock and is believed to be the richest person in the history of Australia.

According to an article in the Financial Times by Neil Hume, this increases her position in the company from 4.9% to 12.6%.  Hume reports that other Australian billionaires are also considering buying significant stakes in Australian media companies.

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