WIN TV becomes biggest shareholder in Nine ahead of potential media ownership reforms
Billionaire Bruce Gordon’s regional WIN TV network has taken a 13 per cent share of Nine Entertainment Co as networks continue to position for mergers ahead of potential reform to media ownership laws.
The network is now the biggest shareholder in Nine after buying the stake from private equity firm Apollo Group in a move which makes it the biggest shareholder in the metropolitan TV network. Gordon is also the largest stakeholder in Network Ten.
The regional TV networks, Prime, Win and Southern Cross Austereo have all been actively lobbying for media reform changes, including the abolition of the reach rule and rules preventing ownership in more than two mediums.
Were the government to introduce such media reforms it would likely spark a raft of media mergers among the TV networks with Nine considered a key player in such deals.
“Billionaire Bruce Gordon” – sounds suspiciously like a super hero alter ego…
Makes a lot more sense WIN buying into its network affiliate Nine rather than TEN. Gordon should sell the TEN shares and take over Nine.
Well WIN’s come a long way since they were just Wollongong’s local tv station!
If WIN has the spare cash to do this, then that makes a mockery of their ‘Save Our Voices’ campaign I would think? Who says there is no money in regional TV? Hopefully Seven pounces on this to add to their argument not to abolish the audience reach rule.
Dropping family feud for pointless is a pointless exercise
Pointless has no comedic content . Bring back Grant Denyer and family feud . I can see a lot of viewers looking elsewhere for their 6 pm fix .