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Bruce Gordon buys Prime Media stake

WIN owner swoops on another broadcaster.

WIN Corp mogul Bruce Gordon has swooped on shares in Prime Media.

According to the Australian Financial Review, Gordon’s private investment vehicle, Birketu, bought 39 million shares on Thursday at 40¢ from Seven Group Holdings. Deutsche Bank executed the trade.

Gordon, who already held a stake in Prime, has lifted to just under the allowed ceiling of 15%.

The government’s current media reform package does not include the removal of the rule preventing anyone from operating more than one commercial TV licence in the same area.

Gordon already has just under 15 per cent of Nine, with a further 5 per cent via cash-settled share swaps.

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