Bruce Gordon's WIN Group hikes Nine Entertainment stake

Billionaire Bruce Gordon has increased his investment in Nine Entertainment (ASX:NEC) through his private regional broadcaster, WIN Group.

According to regulatory filings, WIN Group has boosted its aggregate economic interest in the media giant from 25.22% to 26.30%.

Despite the financial uptick, the group’s voting power within the company currently remains steady at 22.98%, staying just below the threshold that would typically trigger a compulsory takeover bid under Australian corporate law.

The strategic manoeuvre involved a sophisticated restructuring of the group's equity holdings.

Since the last official disclosure on Feb. 26, WIN Group has unwound a pre-existing physical equity swap, a process that resulted in the direct acquisition of 47.5 million ordinary shares in Nine.

Simultaneously, the organisation entered into a new cash-settled equity swap arrangement involving an additional 17.1 million shares.

The dual-pronged approach allowed the Wollongong-based mogul to expand his financial exposure to the broadcaster—which owns the Nine Network, several major metropolitan mastheads, and a majority stake in Stan—without immediately altering the voting balance of the board.

Industry analysts suggest the increased stake underscores Gordon's long-term confidence in Nine’s integrated media model despite broader sector volatility.