Mining billionaire Gina Rinehart is bankrolling the acquisition of a 9.5% stake in Southern Cross Media by Bruce McWilliam, who worked for Murdoch’s News Corp for nine years and is also a former Seven Network executive.

This venture is costing Rinehart $26 million. It does not buy her a direct stake in Southern Cross, but if McWilliam cannot uphold his side of a security deed he has signed with her, she could take control of it.

Southern Cross is one of Australia’s biggest media organisations. It owns the Seven Network, 7news.com.au, the Triple M and Hit radio brands, a raft of regional radio stations, and West Australian Newspapers.

The Rinehart-McWilliam-Murdoch axis is a formidable force, part of a new combination of media, political and mining interests, reminiscent of that which formed the Liberal Party in the 1940s. The other key figures are News Corp chair Lachlan Murdoch, One Nation leader Pauline Hanson and Liberal Party director Tony Abbott.

This is the lens through which it is instructive to assess the media’s coverage of One Nation’s rise since the Farrer byelection on May 9.

To see the parallels with the 1940s, we need to join a few dots.

Rinehart is a benefactor to Hanson. She recently bought her a light aircraft worth $1 million.

She is also a benefactor to Lachlan Murdoch. Her company Hancock Prospecting is sponsoring Sky News, owned by Murdoch’s News Corporation, to the extent of a little over $1 million for a Sky event in Dubbo called the Bush Summit.

Lachlan Murdoch is chairman of News Corporation. In 2023, he appointed Tony Abbott to the board of the News subsidiary, Fox Corporation, a day after Rupert Murdoch announced his retirement. In May this year, Abbott was elected unopposed as federal president of the Liberal Party.

Lessons from the 1940s

The parallels with the 1940s can be seen in volume two of Sally Young’s magisterial two-volume history of the Australia media, Media Monsters, where she describes the machinations that led to the........

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