Bruce Gordon’s WIN Group hikes stake in Nine Entertainment

The news: Billionaire Bruce Gordon’s WIN Group has increased its stake in media business Nine Entertainment.

The numbers: Regional media operator WIN Group has raised its aggregate economic interest in Nine from 25.22% to 26.30%, while its voting power remains unchanged at 22.98%.

Since the last related disclosure, on 26 February, WIN Group has unwound an existing physical equity swap, resulting in the acquisition of 47.5 million Nine shares, and entered into a new cash settled equity swap in respect of 17.1 million Nine shares.