Veteran media mogul Bruce Gordon has retired from the boards of his regional broadcaster WIN and private investment firm Birketu.
The Australian Financial Review reports Gordon, 95, retired from the boards of 41 private companies associated with his business early last month, he is still in charge of Australia’s largest media holding.
The move marks the end of an era for the regional broadcaster and an Australian media titan.
Gordon has commandingly ruled the regional broadcaster’s place in the media landscape, never shirking from affiliate negotiations, takeovers or legal fights -most recently lodging a lawsuit with the NSW Supreme Court last over an alleged breach of contract by shopping channel TVSN.
Gordon gained control of Television Wollongong Transmission Ltd (later rebadged as WIN TV) in 1979 from Rupert Murdoch. He then expanded WIN Television’s operations during the 1990s -by the end of the decade WIN had licences and transmitters in all Australian states and mainland territories except NT.
Based in his harbourside apartment at Sydney’s Circular Quay, he has properties in multiple countries, including a 10-hectare property that once belonged to Robert Stigwood.
His final business move may well be in shaping the future of Nine, a company with which he has a long association. He holds 14.95 per cent in shares plus an economic interest in a further 10.2 per cent through cash-settled equity swaps.
WIN TV CEO Andrew Lancaster holds a seat on the Board but there are reports Gordon may press for a second representative if he can increase his ownership to 25% by selling northern NSW TV station NRN.
Buying more of Nine “doesn’t have a lot of rhyme or reason”, one source tolf the AFR. “But he loves free-to-air TV.”
Succession-like speculation suggests control of his $1b estate could be led by his second wife, Judith, daughter Genevieve or son Andrew Gordon.
With Mike Sneesby having departed as Nine CEO on Friday, Nine’s largest shareholder is surely not done wheeling and dealing just yet…
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