Billionaire Bruce Gordon Snares 13 Per Cent Of Channel Nine

Billionaire Bruce Gordon Snares 13 Per Cent Of Channel Nine

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

Canva Unveils Enterprise Era With Powerful New Workplace Products Debuted At Canva Create
  • Media

Canva Unveils Enterprise Era With Powerful New Workplace Products Debuted At Canva Create

At its first international Canva Create event in Los Angeles today, Canva, the world’s only all-in-one visual communication platform, accelerated its focus on the enterprise, debuting the platform’s biggest overhaul in a decade alongside a range of new workplace products and services poised to redefine the way millions of people work. Lead image: Canva Founders […]

Cashrewards: A Decade Strong!
  • Partner Content

Cashrewards: A Decade Strong!

Cashrewards' CEO muses on the company's 10 year anniversary. Still refusing to answer questions about a possible party.

Partner Content

by B&T Magazine

B&T Magazine
Network 10 Axes Gladiators
  • Media

Network 10 Axes Gladiators

Alas, 10's Gladiators has gone as quickly as it came. Should make for a very wild garage sale, however.