WIN move may impact Nine affiliate price hike


Bruce Gordon’s move on Nine shares ahead of likely media reform under Prime Minister Turnbull is a strategic shake up.

Nine had previously been reported as seeking greater affiliate fees for its broadcasting deal with the regional network. The current deal expires in December.

But Bermuda-based Gordon is said to be ­already preparing to use his shareholding as leverage to gain a better deal for WIN.

After buying shares from US hedge fund Apollo, Gordon has 14.95% of Nine, on top of his 14.95% of TEN.

According to The Australian, as Nine’s largest shareholder Gordon now has a wide range of ­options including a takeover of Nine — if the federal government abolishes the reach rule.

Under current regulations, he is prevented from taking more than a 15 per cent slice of a rival media company. But Nine’s directors will resist any move to gain a seat on the Board.

The Australian Financial Review reports Apollo has not asked to step down from Nine’s board – Kevin Crowe, a principal at hedge fund, has been on the free-to-air broadcaster’s board since February 2013.

Meanwhile, the ACCC is due on Thursday to hand down a ruling on whether to allow Foxtel to purchase 14.9 per cent of Ten Network Holdings, a deal which would reduce Gordon’s influence at the network.

However, it is understood that he intends to maintain his stake in the network which, like Nine, he believes is undervalued.


  1. Armchair Analyst

    There really needs to be a rule about billionaires buying multiple controlling stakes in major media companies. Surely this effects media diversity.

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