Rinehart repositions but to what end?

Gina Rinehart's decision to lower her stake in Fairfax is all about getting on the board. The manoeuvring for influence – which if achieved will likely not bring more readers to the company – is an untimely distraction.

On the news that Gina Rinehart had sold 3.7 per cent of Fairfax Media it initially appeared that she might have been making good on her threat to dump her original 18.7 per cent shareholding. Unfortunately, for Roger Corbett and his fellow Fairfax directors, that doesn’t appear to be the case.

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