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Australia’s richest person moves on media giant Fairfax

Australia’s richest person, mining magnate Gina Rinehart, reportedly took her stake in press group Fairfax to 12.8 percent Wednesday, prompting government calls for tougher media ownership laws. The iron ore billionaire acquired close to 8.0 percent of the group after launching a Aus$200 million ($212 million) share raid late Tuesday, bringing her total holding…

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