News 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.