This article was last updated on April 16, 2022
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Fairfax revealed its plans to close its two main printing works, cut 1900 staff and start limiting charging on its major websites. The company’s biggest shareholder Gina Rinehart, with an 18.67 percent stake in the company, demanded as many as three seats on the company’s board giving the reason that firm was not performing well.
The Australian Greens desired to have new laws introduced to reduce the editorial influence of Rinehart over Fairfax Media Ltd newspapers. Therefore, Greens, Senator Scott Ludlam said on Tuesday he would write a letter to Communications Minister Stephen Conroy and his opposition counterpart Malcolm Turnbull requesting them to support legislation that would stop media owners and board members from hindering objective and independent journalism.
A letter was sent by the public to mining magnate and major shareholder Gina Rinehart. The letter that submitted a request to Rinehart said that she should commit to upholding the media organization’s editorial independence.
The world’s richest woman Ms Rinehart had been refused a board position because she said she would not sign Fairfax’s Charter of Editorial Independence.
The letter that was signed by the house committees of the SMH, Age and the Canberra Times read, “The reports suggesting you might not support the Charter of Editorial Independence have caused considerable disquiet among staff”. “We would like you to give us an assurance you do support the principles set out in the Charter of Editorial Independence and, in the event you join the Fairfax board, you will agree to uphold them. Such an assurance would go a long way to reassuring the staff who produce the publications in which you have such a substantial investment.”
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