Bruce Gordon, owner of WIN Television – the world’s largest privately-owned regional television network – has indicated his desire for a seat on the Nine board after the two companies announced a deal last Friday.
Nine announced that it has signed a contract with WIN for at least seven years, ending its partnership with SCA, who has held the contract since 2016.
Before that, Nine and WIN had a deal that eventually ended in a court case. WIN tried to prevent 9Now, Nine’s streaming service, from being accessible in regional Australia.
WIN eventually lost the court case.
Gordon told the Sydney Morning Herald that, “we are believers that shareholders should be represented on public company boards, particularly shareholders who continue to invest so much in the business.”
“I am a big supporter of Peter Costello and what he and his board have done with Nine over the past few years and believe that we have the media experience to add further value to the Nine board.”
Gordon currently owns just under fifteen per cent of Nine’s shares, having bought them from US Hedge Fund Apollo in 2015.
The Australian has speculated as to whether the deal will lead to Nine buying WIN, which would also increase Godron’s stake in a Nine/WIN combined group.
The Nine board currently has six members, three with links to Nine and three with links to Fairfax after the companies merged in 2018. Patrick Allaway, who has ties to Fairfax, has resigned from the board, leaving one position open.
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