WIN Corp mogul secures $5m share in Fairfax Media

The billionaire owner of WIN Corporation, Bruce Gordon, has secured a $5 million stake in its rival media group Fairfax Media.

It’s a small share in the newspaper and digital radio company however, amounting to just 1% of all Fairfax stock, according to the AFR.

Fairfax shares had been on the table for some time with Gordon and Fairfax embroiled in recent financial discussions over a possible divvying up of resources in regional areas to service both WIN and Fairfax.

Interestingly, Gordon is Ten Network’s largest shareholder having lifted his stake to 15% in September with a cash injection of $2 million. In recent weeks the network has drawn interest from Fairfax, as well as US media giants and Foxtel, suggesting a possible merger or acquisition.