The Rinehart-backed deal that’s created a smorgasbord for conspiracy theorists
Bruce McWilliam has acquired a nearly 10% stake in Southern Cross Media with funding from Gina Rinehart, sparking speculation among observers. The involvement of Rinehart in this deal has raised questions, as she could have purchased the shares directly. McWilliam, previously associated with Seven West Media, is seen as a potential candidate for a board position at Southern Cross.
- ▪Bruce McWilliam has made a career working with Australia's billionaires, including Kerry Stokes and Rupert Murdoch.
- ▪He has borrowed funds from Gina Rinehart to purchase a stake in Southern Cross Media, which merged with Stokes' Seven West Media.
- ▪Speculation surrounds Rinehart's involvement, as she could have bought the shares in her own name.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.