Gina Rinehart threatens to sell stake in Fairfax unless given editorial influence

He used the newspaper to express other views, such as his belief that nuclear
explosives should be used along the coast to clear the way for artificial
harbours.

But the moves by Mrs Rinehart have raised concerns about her potential to use
her media interests to influence public debate.

In a letter to Fairfax’s Melbourne newspaper, The Age, a range of prominent
Australians including Malcolm Fraser, the former prime minister, Nobel
Prize-winning scientist Peter Doherty and the actor Geoffrey Rush today
urged the Fairfax board not to abandon the charter.

Mrs Rinehart, a climate change sceptic and fierce opponent of Julia Gillard’s
new taxes on carbon emissions and mining, said she was concerned about the “lack
of understanding in the media on this issue”.

“To lessen the fear the media have caused over these issues, Mrs Rinehart
suggests that the media should also permit to be published that climate
change has been occurring naturally since the earth began, not just the
views of the climate extremists,” the statement said. “It is a
fact that there have been ice ages, then periods of global warming to end
the ice ages, and these have occurred naturally, including due to the
earth’s orbit, and not due to mankind at all.”

Mrs Rinehart’s ultimatum to Fairfax was believed to have prompted a further
drop in the share price today to record lows. Some analysts have speculated
that if she sells her stake in Fairfax, the price will further drop and
could pave the way for her to make a hostile takeover bid.

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