Deals
News Corp. Wins Control of German Division for $464 Million
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Rupert Murdoch’s News Corp. increased its stake in German pay-TV company Sky Deutschland AG to a majority, 18 months after giving up a bid to fully acquire British Sky Broadcasting Group Plc.
News Corp., which started investing in Sky Deutschland five year ago, raised its holding to 54.5 percent from 49.9 percent by buying new Sky shares for 347.4 million euros ($464 million). The deal is part of a 1 billion-euro financing package Sky agreed with News Corp. and lenders to help the pay-TV operator win more customers, Sky Chief Financial Officer Steven Tomsic said on a conference call today.