Harold Mitchell, one of the major figures in Australian advertising history, said that he was the victim of a commercially naive legal campaign by the corporate regulator designed to restore its reputation after its humiliation in the banking royal commission.

Mr Mitchell, who was cleared on Friday of 41 of 44 charges filed by the Australian Securities and Investments Commission that alleged he rammed through a below-market sale of tennis broadcast rights to Seven West Media in 2013, said he was an attractive target because of his high profile, which was built running a large media agency, mixing with media proprietors and chairing cultural bodies, including the Melbourne Symphony Orchestra.