Iron-ore heiress raids Ten Network

Gina Rinehart takes 10% stake in Oz broadcaster

In a surprise move, Australian iron-ore heiress Gina Rinehart has taken a 10% stake in the Ten Network for A$160 million ($155 million).

The acquisition follows media scions James Packer and Lachlan Murdoch’s raid on the commercial broadcaster last month.

They grabbed an 18% stake, worth $246 million, and are set to join the web’s board in December.

A statement from Rinehart’s Hancock Propecting, which is riding high on the local mining boom, said the company wanted to invest in the media business “given its importance to the nation’s future.”

Whether Rinehart plans to ride on the coattails of her media-savvy friends on the share registry or take a more active role has yet to be seen.

More TV

  • ROSEANNE - "Netflix & Pill" -

    'Roseanne': What's Next for ABC's Spinoff

    In a surprise move, Australian iron-ore heiress Gina Rinehart has taken a 10% stake in the Ten Network for A$160 million ($155 million). The acquisition follows media scions James Packer and Lachlan Murdoch’s raid on the commercial broadcaster last month. They grabbed an 18% stake, worth $246 million, and are set to join the web’s […]

  • D'Arcy Carden The Good Place

    Emmys: Will Critical Darlings Like 'The Good Place' and 'Killing Eve' Find a Foothold?

    In a surprise move, Australian iron-ore heiress Gina Rinehart has taken a 10% stake in the Ten Network for A$160 million ($155 million). The acquisition follows media scions James Packer and Lachlan Murdoch’s raid on the commercial broadcaster last month. They grabbed an 18% stake, worth $246 million, and are set to join the web’s […]

  • ROSEANNE - "Netflix & Pill" -

    The 'Roseanne' Spinoff Can't Escape Roseanne (Column)

    In a surprise move, Australian iron-ore heiress Gina Rinehart has taken a 10% stake in the Ten Network for A$160 million ($155 million). The acquisition follows media scions James Packer and Lachlan Murdoch’s raid on the commercial broadcaster last month. They grabbed an 18% stake, worth $246 million, and are set to join the web’s […]

  • Lagardere Studios' Imagissime Unveils New Documentaries

    Lagardere Studios' Imagissime Unveils New Slate of Documentaries (EXCLUSIVE)

    In a surprise move, Australian iron-ore heiress Gina Rinehart has taken a 10% stake in the Ten Network for A$160 million ($155 million). The acquisition follows media scions James Packer and Lachlan Murdoch’s raid on the commercial broadcaster last month. They grabbed an 18% stake, worth $246 million, and are set to join the web’s […]

  • Laura Ingraham

    Laura Ingraham Is Under Madison Ave.'s Microscope Again

    In a surprise move, Australian iron-ore heiress Gina Rinehart has taken a 10% stake in the Ten Network for A$160 million ($155 million). The acquisition follows media scions James Packer and Lachlan Murdoch’s raid on the commercial broadcaster last month. They grabbed an 18% stake, worth $246 million, and are set to join the web’s […]

  • One Day At A Time, Vida

    How 'Vida' and 'One Day at a Time' Make the Political Personal (Column)

    In a surprise move, Australian iron-ore heiress Gina Rinehart has taken a 10% stake in the Ten Network for A$160 million ($155 million). The acquisition follows media scions James Packer and Lachlan Murdoch’s raid on the commercial broadcaster last month. They grabbed an 18% stake, worth $246 million, and are set to join the web’s […]

More From Our Brands

Access exclusive content