Gina Rinehart bankrolls purchase of 10% stake in Seven network owner Southern Cross Media (opens in new tab)

The $26m deal involving media executive Bruce McWilliam signifies return to media business for mining billionaire after previous holdings in Fairfax and TenGet our , or Gina Rinehart, Australia’s richest person, has bankrolled former Seven media executive Bruce McWilliam’s acquisition of an almost 10% stake in Southern Cross Media, which owns the Seven Network, the Triple M and Hit radio brands and West Australian Newspapers.While the unusual arrangement – worth about $26m – does not give Rin...