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News Corp takes Sky Germany to 40%

August 5, 2009 17.47 Europe/London By Julian Clover

Sky_Gebaeude1News Corp has further demonstrated its commitment to the German pay-TV market by taking its share in the freshly rebranded Sky Deutschland close to 40%.

A spokesman for News Corp in Germany said the company was satisfied with its current stake in Sky, leading local media to ask whether the Murdoch media conglomerate may look to up its stake further. The spokesman added that the company had chosen to increase its stake now because of the favourable shareprice.

News Corp now owns 39.96% in the former Premiere AG having taken its stake from 30.5%. German law normally requires a shareholder to make a takeover bid once it holds more than 30% in a company. However, News Corp has been granted a waiver by the financial regulator BaFin on the grounds that Sky Deutschland is in the midst of a restructuring.

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Filed Under: Editor's Choice, Finance, Newsline, Satellite, Top Story Edited: 10 August 2009 11:40

About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on Twitter @julianclover, on Facebook or by email at jclover@broadbandtvnews.com.

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