Profits at the regional media group owned by billionaire businessman Bruce Gordon halved last year, as the channel faces a slowdown in television advertising but suffers from rising costs.

WIN Corporation owns the WIN network, two radio stations in New South Wales and a significant property portfolio. New accounts filed with the corporate regulator show profits fell from $8.3 million to $4.7 million in the 12 months to June 30. Revenue fell from $200.8 million to $195.1 million.

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