I think that those celebrating the unconscionable actions of the Fairfax board will be laughing on the other side of their face if Gina carries through with her threat to dump her 18% when the share price plummets as a result . Especially if the plummeting share price precipitates the total collapse of of the company.
There is a matter of justice involved here. Put simply with a publicly listed company if you hold the shares then you should have the right to a proportionate representation in its instruments of control (the board).
Personally I am neither a great fan of Gina nor the way that Fairfax slants its stories but it should be obvious to anyone with half a brain that Fairfax is accelerating down a slippery slope into media oblivion and that more of the same “editorial independence” is just making the slide to oblivion quicker and more certain.
What a lot of the politically interested seem to miss is that news papers (and their digital counterparts have long ago ceased to really be about politics at all they are instead just a source of entertainment and distraction from the more mundane aspects of our lives and as such most readers don’t take the machinations of our pollies any more seriously than the news that lady Ga Ga has a new look this week.
Its all just grist for the mill and who turns the handle on the mill is really of lesser importance than there being any mill at all. Gina may want to bring a bit more balance to the Fairfax press in the way that it covers some issues (like climate change) but she is canny enough to know that the trick to making it profitable is not to alienate its current audience while in the pursuit of new readers