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Journalist ‘faces investigation over Packer story’

A journalist is under investigation by regulators  for publishing market rumour that James Packer wants to sell his remaining media assets, claims The Australian.  

The newspaper says that Sydney Morning Herald commentator Elizabeth Knight is facing the investigation from the Australian Securities and Investments Commission over her December 17 column. In it she reported: “One of the most openly talked about situations in the corporate market right now is James Packer’s desire to sell the last of his media interests by offloading his private company’s 38 per cent stake in Consolidated Media Holdings.”

The Australian claims the investigation is part of an ASIC attempt to stop negative rumours hurting company share prices.

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