Billionaires Graveyard!, page-105

Very interesting news, Southern Cross Austereo has reached an agreement with Bruce Gordon's WIN Corporation to sell its northern NSW regional TV operations in a $55 million deal.

Now forgive me if I'm wrong but WIN as an affiliate of TEN will find it very hard to go it alone without assistance of its 'Big Brother' affiliation partner.

So, I believe that this answers the question about whether or not Bruce Gordon will continue as guarantor for the loans held by TEN. Also, paying $55 million just for the northern NSW region also makes Ten Networks market cap of $77.52 million seem somewhat on the lower valuation side.

It could be that Bruce is starting to go a bit senile in his later years but it could also be that he's putting another piece into what has been a very convoluted and interwoven plan. It could also be that he is in cahoots with Lachlan Murdoch and bigger moves are in play but thats where my conspiracy theories end!