Buy Fairfax, avoid Ten: veteran Sam Chisholm’s advice to Gina Rinehart

Gina Rinehart, sought counsel from one of the media landscape’s toughest and most experienced executives as she prepared to invest a small chunk of her wealth in an industry that has brought many before her unstuck. In late 2010, Mrs Rinehart, the West Australian mining magnate with an estimated personal wealth today of $20.02 billion, wanted advice on whether to invest in the Ten Network alongside James Packer and Lachlan Murdoch, or in the declining publishing business Fairfax Media.