Billionaire Bruce Gordon Snares 13 Per Cent Of Channel Nine

Billionaire Bruce Gordon Snares 13 Per Cent Of Channel Nine
SHARE
THIS



Billionaire Bruce Gordon – owner of the WIN Corporation and Ten Network’s largest shareholder – has acquired a 13 per cent stake in Channel Nine.

The move comes after US hedge fund Apollo sold its share of Nine.

Gordon is prevented under current media regulations from taking more than a 15 per cent slice of a rival media company. However, it is believed that the Turnbull government is set to relax media ownership laws hence Gordon’s move.

His privately-owned WIN Corporation already receives programming by Nine from an existing deal.

There has been media reports that current Nine boss David Gyngell plans to step down from the job, as early as Christmas. This uncertainty led to Apollo pulling out and Gordon moving in.

It was the private money of Apollo and Oaktree Capital Management that saved Nine from insolvency in 2012. Apollo has now sold out altogether while Oaktree has also reduced its share in the business.

Latest News

Kyle Sandilands and Jackie Henderson (Kyle & Jackie O) from KIIS at the 2015 ACRA Awards
  • Media

Kyle & Jackie O Crowned Best On-Air FM Team At Commercial Radio Awards

KIIS 1065 breakfast duo Kyle Sandilands and Jackie “O” Henderson have won the Best On-Air Team (Metro FM) category at the 30th Australian Commercial Radio Awards (ACRAs). Held on Saturday night at the Melbourne Exhibition and Convention Centre, and hosted by The Chaser’s Chris Taylor and Andrew Hansen, the ACRAs celebrated the best and brightest talent in […]

Digital Asset Management Solution Collaboro A Natural Fit With Open Data Initiative
  • Technology

Digital Asset Management Solution Collaboro A Natural Fit With Open Data Initiative

Digital asset management solution Collaboro claims its offering is a natural fit with Adobe’s, Microsoft’s and SAP’s new Open Data Initiative, as more organisations centralise their data on a single platform to improve their customer management and improve marketing performance.   According to Warwick Boulter (main photo), co-founder and CEO of Collaboro, a leading full-service solution for managing enterprise-level […]