Australia's Channel Nine operator dips after media mogul Gordon deepens ownership

Nine Entertainment Holdings

04/09/2026 06:43

** Channel Nine operator Nine Entertainment NEC.AX slid 8% to A$0.92, set for its steepest one-day drop since September 2025
** Stock sheds 4.9% so far this week and is on track for its steepest weekly decline since early May
** Australian media mogul Bruce Gordon tightens hold on Nine, lifting his stake above 31%, as per an exchange filing 
** More than 6.7 million shares changed hands, representing ~1.2 times stock’s 30-day avg trading volume
** Stock down 16.9% year-to-date

 (Reporting by Paridhi Minda in Bengaluru)
 ((Paridhi.minda@thomsonreuters.com;))