News Corp plans Premiere stake increase
News Corp is looking to further increase its hold on the German pay-TV platform Premiere, ahead of the company’s AGM on June 12, but will stop short of a full-scale takeover.
The German business weekly Der Spiegel says News Corp will look to build on its current 19.9% holding in order to push through a series of changes.
News Corp would need to hold 23% of Premiere’s shares in order to command a majority at the AGM, based on previous attendance.
Der Spiegel reports that News Corp would stop short of the 30% level that would require it to make a takeover offer.