Report: WIN boss buys up Nine shares

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Bermuda-based billionaire and WIN TV boss Bruce Gordon has invested in the Nine Network, according to a media report.

The Australian reports Gordon, who is also TEN’s largest shareholder, began building a shareholding in Nine last month under the 5 per cent threshold at which he would be required to declare his interest.

He reportedly scooped up about 20 million shares in Nine in a deal worth about $40 million.

The strategic move comes ahead of possible media reform and potential mergers between media groups. Nine is tipped for a merger with Fairfax.

More recently Gordon tabled his own proposal to TEN’s board, offering to inject funds as part of a debt restructure alternative to the joint Foxtel / Discovery bid.

He previously sold Nine’s Adelaide and Perth stations to Nine in 2013.

4 Comments:

    • His worst case would be a merger of Nine and Southern Cross, giving Southern Cross his Nine affiliation, leaving WIN with a TEN affiliation. In the interests of WIN he would much rather control Nine than TEN.

  1. TasTVcameraman

    All I am able to say is why, he already owns WIN TV, so why go after Nine unless he wants to cut the re transmission fees Nine charges, but then he already a lot of Ten.

    Does he want to own all the stations in Australia ?

    • As he’s Bermuda-based, he should not be allowed to hold even minority shares in any TV stations here!
      As for WIN-TV, they should be forced to relinquish all other holdings outside their base of Southern NSW. NBN-Newcastle has stayed within its coverage area after aggregation(though aggregation itself has been a total stuff-up from the get-go) and if NBN stays within its own territory, so must WIN-TV.

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