News here in Australia is mining billionaire Gina Rinehart buying a large stake in Fairfax Media (the most significant newspaper group in Australia outside of News Corporation) to go with her stake in Channel 10.
With newspapers on the decline, there are suggestions the purchase is more a political investment than a financial one. It's a view that seems to be supported by this footage of climate change denialist Christopher Monckton meeting with mining bosses.
Basically, he suggests mining start its own news channel. With enough wealth, they can make 'news' that promotes their agenda. It gives new meaning to the phrase 'commercial news'.
With another wealthy miner, talking of buying 30% of Fairfax, it's a worrying day for action on climate change, when the news we read is controlled by the people profiting from digging up the coal.
Kudos to freelance journalist Graham Readfearn for breaking this story and to GetUp for passing it on.
[Link: more from Graham Readfern on this]