Fairfax faces siege in 2013 as Rinehart allies with Singleton to renew assault

Sun, 30 Dec 2012

Dec. 31 (BusinessDesk) - Fairfax Media Group will face another raid by activist shareholder and iron ore magnate Gina Rinehart after she enlisted Macquarie Radio Network's John Singleton in her bid to exert control over the publisher of the Dominion Post, Sydney Morning Herald and Australian Financial Review. Rinehart's Hancock Prospecting and Singleton's Gutenberg Investments have pooled their Fairfax shareholding to hold 15.4 percent voting power, according to a statement lodged with the ASX. The agreement aims to enhance shareholder value...

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