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WIN Group increases Nine Entertainment stake past 31%

WIN Group lifts its economic interest in Nine Entertainment above 31%, strengthening its position as the broadcaster's largest shareholder.

Posted by
Laura Stewart
Author bio Laura Stewart is a Finance Editor at The Motley Fool, where she covers Australian and international equity markets. She joined the company in 2022, following a career transition from legal advisory work in Southeast Asia into the investment industry. Prior to her current editorial role, Laura spent three years as an Equity Analyst and Writer, producing investment research across the ASX, NYSE, and NASDAQ. Her coverage included small-cap growth companies, thematic investment ideas, and high-quality U.S.-listed businesses. Laura holds a Master of Applied Finance and brings additional expertise in accounting, taxation, and estate and wealth planning from her postgraduate studies. She also has a background in law and communications, which supports her analytical and reporting work in financial markets. Outside of work, she enjoys spending time in the Adelaide Hills with her flock of sheep. Education Laura holds a Bachelor of Laws, a Bachelor of Communication (Journalism), and a Bachelor of Commerce with majors in Accounting and Corporate Finance. In 2025, she completed a Master of Applied Finance at the University of Adelaide, receiving postgraduate awards in Accounting Concepts & Methods, Ethical Principles in Accounting & Finance, Real Estate Valuation & Investment, and Tax, Estate & Wealth Planning. Social media LinkedIn FYI – I am taking a break from social media at the moment, so this account isn’t active at the moment, but I will let you know when I rejoin. Favorite investment quote "Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it." — Albert Einstein
Published

The Nine Entertainment Co. Holdings Ltd (ASX: NEC) share price is in focus after WIN Group announced it has increased its economic interest in Nine Entertainment to 31.18%, following on-market purchases of 47 million shares since April 2026. WIN Group's voting power in Nine has also risen to 25.94%.

A group of market analysts sit and stand around their computers in an open-plan office environment.

Image source: Getty Images

What did Nine Entertainment report?

  • WIN Group acquired 47,012,885 Nine shares on market between 27 August and 3 September 2026.
  • WIN Group's aggregate economic interest increased from 28.22% to 31.18%.
  • Voting power for WIN Group rose from 22.98% to 25.94%.
  • No changes were made to WIN Group's existing cash-settled equity swap position in Nine.
  • Total shares held by WIN Group now stand at over 411 million.

What else do investors need to know?

Nine Entertainment disclosed these substantial shareholdings after receiving a formal update from WIN Group, led by Bruce Gordon through Birketu Pty Ltd and WIN Corporation Pty Ltd. The acquisitions reinforce WIN Group's position as the largest shareholder in Nine, and mark a notable increase from its previously disclosed position in April 2026.

The move was disclosed in accordance with Takeovers Panel Guidance Note 20, ensuring the market is kept informed on changes that could affect control or influence within the company. Nine released the information to the ASX to maintain transparency and comply with regulatory requirements.

What's next for Nine Entertainment?

Looking ahead, investors will be watching whether WIN Group continues to consolidate its interest in Nine Entertainment Co. Any further increases in shareholding or moves relating to the company's strategic direction could influence future governance and business decisions.

The company plans to keep shareholders and the market informed about any future changes to major shareholdings, in line with its ongoing disclosure obligations.

Nine Entertainment share price snapshot

Over the past 12 months, Nine Entertainment shares have declined 41%, trailing the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the same period.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

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