Bruce Gordon on course to control Nine

Bruce Gordon’s WIN corporation has sold its northern NSW television licences, paving the way for the 96-year-old billionaire to increase his shareholding in Nine Entertainment Company to a dominant stake.

WIN sold Northern Rivers Television to Network Ten, and a deal that was flagged over six months ago. The regional licence covers Newcastle, Taree, Tamworth, Port Macquarie, Lismore, Coffs Harbour and the Gold Coast, and its ownership has so-far blocked Gordon from increasing his shareholdings in Nine. Under Australian media law, owning more than one commercial TV license in the same market is prohibited.

Gordon is currently the largest shareholder at Nine, with a 14.95% stake through his investment vehicle Birketu. He also indirectly owns an additional 10.2% through equity swaps held with Macquarie Group.