PERTH: Veteran media billionaire Bruce Gordon and his WIN Corporation empire are expected to raise their bid for television station Channel Nine in the Western Australia city of Perth after current owner Sunraysia rejected their A$146.2 million ($121.8m; €89.8m; £61m) offer in favour of PBL Media's lower A$136.4m.
WIN could agree to pay a A$1.36m break fee that Sunraysia will be liable for if it does not accept PBL Media's offer. The break fee was one of the reasons it gave for rebuffing WIN.
If the deal is still rejected, WIN is widely expected to resort to legal action against Sunraysia.
Data sourced from Sydney Morning Herald; additional content by WARC staff