Billionaire Bruce Gordon’s regional media company WIN is close to offloading its northern NSW TV station, paving the way for him to increase his stake in Nine Entertainment to 25 per cent and potentially agitate for greater board representation.

The 95-year-old, who is worth an estimated $1 billion, is the most influential shareholder at Nine, the ASX-listed media giant that owns the Nine Network, streaming platform Stan, radio stations 2GB and 3AW, news outlets including The Sydney Morning Herald, The Age and The Australian Financial Review, and a majority shareholding in property platform Domain.