Nine Entertainment is said to be in talks with wealthy businessman Bruce Gordon about a deal to vend his regional broadcaster WIN Corporation into the $5bn media business.
The talk in the market comes as Stan boss Mike Sneesby gets set to take the reins at Nine after being promoted within the stable to replace outgoing CEO Hugh Marks next month.
On Tuesday, it emerged that Mr Gordon had sold some shares in Prime Media to Australian Community Media owners Antony Catalano and Alex Waislitz, enabling the pair to lift their interest in their takeover target to about 20 per cent, from just over 14 per cent.
The understanding among some is that Mr Gordon has lost interest in Prime and is now turning his attention to a Nine deal involving his fully owned WIN Corporation, which consists of the WIN regional television network, Crawford Publications and several local radio stations.
It is understood that the discussions centre on a deal that could involve Mr Gordon being paid in Nine scrip for WIN, which some suggest could be worth between $50m and $100m.
Currently, Mr Gordon holds a stake of about 15 per cent in Nine. A sale would probably win him a seat at the boardroom table.
The latest sale of Prime shares follows a takeover battle for Prime between Seven West Media, the company’s second-largest shareholder, and ACM.
Changes to media laws have enabled large metro television broadcasters to buy rivals after earlier being prevented from reaching more than 75 per cent of the population.
An acquisition of WIN by Nine is likely to result in it switching its allegiance away from Southern Cross Media, with which it has had an affiliate deal to receive regional content.
Elsewhere, UBS industrials analyst James Brennan-Chong is understood to have left the Swiss bank to join James Hardie as its head of investor relations.
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