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Bruce Gordon adds Nine Adelaide to his empire

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Sydney- Bermuda-based billionaire Bruce Gordon has bought the Nine Network affiliate in Adelaide, South Australia, from Southern Cross Broadcasting, to add to his WIN empire in regional Australia. He paid A$105 million (US$86.1 million) for the financially struggling station, just $5.7 million more than SCB shelled out for it in 1998. Recently WIN bought the Nine affil in Perth, Western Australia, while PBL Media acquired the Newcastle-based affil NBN. The James Packer-controlled PBL has flagged its intention to halve its 50% stake in PBL Media, selling out to its partner CVC Capital Partners.