Gina Rinehart, Kerry Stokes, Bruce Gordon and Rupert Murdoch. All of these names probably sound familiar to you, well that’s because these four people are the major owners of your all the media you consume.
It’s crazy isn’t it that these four people have so much power over the media. At this point, Australia has the highest concentration of media ownership in the developed world. Most younger people, like myself, don’t have a very large interest in the media ownership. You’ll find that we know that Mark Zuckerberg owns Facebook or Jack Dorsey owns Twitter but most wouldn’t know that Rupert Murdoch owns 8 out of 12 major newspapers though News Corp Australia (formally News Limited).
Gina Rinehart, you might know about her from the recent mini-series that aired on Channel 9 this year called ‘House of Hancock’. After her father died she became the chairman of Hancock Prospecting an Australian Mining exploration and extraction company. She later become a player in the media industry, no longer limiting herself to the mining business. As of 2010 she has a 10% share in Ten Network Holdings and has 18.67% of shares in Fairfax Media making her the largest shareholder in the company.
Fairfax Media is one of Australia’s largest media companies, owning 3 of the 12 major newspapers as well as others, magazines, radio and digital media including The Sydney Morning Herald, online real-estate site domain and in 2014 entered into a joint venture partnership with Nine Entertainment Co.
Kerry Stokes has shares in a diverse range of industries including electronic and print media, property and mining but is most well known for being the chairman of Seven West Media, owning about 43% of shares. Seven West media owns the following:
Bruce Gordon owns and controls WIN Television which reaches more than 5 million across Australia and is also the a 10% shareholder in Ten Network Holdings.
Channel 10 (Ten Network Holdings) is owned by many of the biggest media owners in Australia. James Packer is the largest shareholder with 18% and Bruce Gordon and Gina Rinehart both have 10% each. Ten Network Holdings owns the following:
- Network 10 – ATV Melbourne, TEN Sydney, TVQ Queensland, ADS Adalaide, NEW Perth
- ELEVENCo (66.6%)
Lastly there’s Rupert Murdoch he is chairman and CEO of News Corporation the worlds second largest media conglomerate, its successor News Corp and 21st Century Fox after the conglomerate split in 2013. News Corp also owns a 66.87% share of The Brisbane Broncos NRL Team
Some of News Corp hundreds of assets include:
- Magazines: GQ Australia, Masterchef Magazine, Vogue Magazine
- Television: Foxtel
- Newspapers: The Sun(UK), The Daily/Sunday Telegraph, The Wall Street Journal and New York Post (USA)
- HarperCollins (book publishing)
Some of 21st Century Fox assets include:
- Fox Entertainment (film)
- Fox News (television)
- National Geographic Channels (television)
- 31% share in Hulu (online streaming)
In case all this confused you because it definitely confused me at first too, here is the helpful video watched in the lecture that explained who owned what in Australian Media.