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News: Gina Rinehart sells out of Fairfax Media

  1. Fairfax Media Limited's (ASX:FXJ) multi-billionaire shareholder Gina Rinehart is understood to have sold out of the media group.

    The company’s publications have reported mining magnate Ms Rinehart offloaded her 14.99 per cent interest last week. 

    According to the reports the trade was executed at 86.75 cents per share, valuing the stake at more than $300 million. 

    Ms Rinehart began to build her interest in Fairfax Media in 2010 and became the company’s largest shareholder in 2012. 

    Fairfax Media reported a net profit of $225 million in the 2014 financial year.

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