The thought of following the lead of Gina Rinehart occurred on Clive Palmer, who declared on Thursday that dipping his fingers on media business was not bad proposition at all.

Himself a billionaire out of mining interests, Palmer called Rinehart's Fairfax Media shares acquisition this week as a smart move.

Australia's richest person secured substantial stakes on Fairfax by spending some $1192 million that analysts said would be likely utilised by the mining mogul in amplifying her influence on national affairs.

Regarded by the international media as the 'Pilbara Princess' due to huge mining holdings in Western Australia, Rinehart is touted to soon join the world's billionaire circle and eventually become the richest person in the planet.

And so far, Palmer is convinced that his female counterpart is heading to the right directions, including her recent media investments.

Palmer told ABC that putting his money on a media company would be a good move and hinted that working with Rinehart, who has become Fairfax's largest single investor, would be exciting.

"She's a very, very smart woman so if she's going after Fairfax there must be something in it," Palmer was reported by ABC as saying.

He clarified, however, that his main intention, aside from profit, is to institute reforms on the way media firms handle their responsibilities.

"We've certainly got the money and we'd certainly like to see media in Australia become much higher quality," Palmer explained.

He added that making a move on a specific media company will be a serious business decision for him and allowed that "we'd want 30 per cent, not 15, and we'd go much more aggressively to make sure the company got things moving."

Once he is in a position to decide for the company, Palmer said that foremost on his list is to improve the professional standards of media personnel under his roll in order for the company to increase its contribution to the community.

Palmer's sentiments can be traced on his recent tussle with the Queensland government over a proposed rail project in the Galilee Basin.

A letter of Palmer, addressed to Queensland Co-ordinator General Keith Davies, was leaked and published though Queensland Treasurer Andrew Fraser.

In the letter, Palmer questioned the decision of the state government to give priority status to QR National on a state rail project that his company has already made initial investments.

Palmer's act, according to Fraser, amounts to political bullying, which is why he leaked the letter to expose the billionaire's true motive.

Palmer, however, insisted that the Queensland government had disregarded the license he previously obtained for the project in showing preference for QR National, where the government maintains substantial holdings of more than 30 percent.

"They've acted illegally, they've done that for political expediency," Palmer lamented.

He added that media acted irresponsibly in publishing the letter that he said was sent to Davies by his company's legal department to clear out the issue.

"It's of great disappointment to me the matter's been publicly aired at all, it doesn't give good confidence to people doing business with the government," Palmer was quoted by the Australian Associated Press (AAP) as saying.