Sydney Morning Herald business journalist Elizabeth Knight has become the first high-profile target of the Australian government's crackdown on market rumours. On December 17, Knight wrote that it was "openly talked about" that James Packer was wanting to exit the last of his media interests by selling his private company's stake in Consolidated Media.
Consolidated Press is understood to have complained to Australia's securities and investments commission that the stake was not for sale and Knight's conclusion was incorrect. The commission would not confirm whether it is holding an official investigation. (Via The Australian)
