Mining magnate and Queensland's wealthiest man, Clive Palmer, has said he might consider following in the footsteps of fellow billionaire Gina Rinehart by taking a stake in Fairfax.
In an interview last night with ABC Television's Lateline, Palmer said he would be more aggressive than Rinehart and would take 30%, if he was to take a stake.
“Fairfax looks very exciting,” Palmer said. “[Rinehart] is a very smart woman so if she's going after Fairfax there must be something in it.
“Of course, we'd buy 30% not 15%. We'd go much more aggressively to make sure we got things moving.”
When asked if his comment was tongue-in-cheek, Palmer would not reply definitively. He went on to say that he would “absolutely” consider a partnership with mining and media mogul Rinehart.
“We've certainly got excess money to spend,” he said.
Palmer went on to say that he would like to get involved in the Queensland media scene, which he said is lacking in journalistic quality.
He said he would not use any media stake to influence the media agenda. Instead, he said he would use his power to increase the professional standards of journalism.
His comments follow the news earlier in the week that Rinehart had taken just under 15% of Fairfax, in a $200 million raid.
The purchase has raised concerns that Rinehart may try to use her position to influence the media agenda in Australia. Rinehart also owns a 10% stake in Network Ten.
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