Bruce Gordon ups shareholding in Australia's TEN Network
| 15 September 2014
Billionaire media mogul Bruce Gordon has reportedly increased his shareholding in Australia's third-placed television network, TEN, to almost 15%.
The move secures Bermuda-based Gordon as the TV network's largest shareholder, ahead of other major shareholders including News Corp non-executive co-chairman Lachlan Murdoch, mining magnate and Fairfax Media shareholder Gina Rinehart, and Crown chairman James Packer. Seven West Media proprietor Kerry Stokes also owns nearly 5% of TEN.
Speculation surrounds a possible merger between Bruce Gordon's privately-owned TV network WIN Corp, and TEN or Nine Entertainment Company, should the Australian Government relax current legislation which, among other things, prevents mergers between metropolitan and regional TV networks.