Bruce Gordon increases stake ahead of Nine / Fairfax merger

WIN Corporation owner Bruce Gordon has upped his grip on Nine at just on 25%, positioning him as the largest shareholder of a merged Nine / Fairfax Media company.

The Australian Financial Review reports that on Friday, Birketu, Gordon’s private investment vehicle, confirmed it had increased its cash-settled share swap related to Nine to 9.97% of the free-to-air broadcaster.

Gordon already holds 14.97% of Nine shares but is prevented from owning more due to the one television licence to a market rule.

The combination of its shares and the equity swaps take his total economic interest in Nine to 24.94%.

3 Comments:

  1. battlestargalactica

    I don’t think I’ve seen a pic of Bruce without a camera in it. Is it a prerequisite I wonder? Usually he’s standing in front of one but it looks like he’s mid-way through repairing this one. Given it doesn’t have an eyepiece he’s certainly not about to use it. Perhaps someone left it in his office and he’s asking who it belongs to.

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