Since the Seven West merger, there has been a non-stop tussle over operational control of Southern Cross Media in a media industry version of Game of Thrones. This week’s news is the latest bizarre twist.

Billionaire Gina Rinehart financed most of Bruce McWilliam’s near-10 per cent stake in Southern Cross Media, a new disclosure shows.

After weeks of speculation about why McWilliam bought into the media company, Australia’s richest person has revealed she lent him the money.