News Corp ups Sky Deutschland stake
International media concern News Corp has increased its shareholding in German pay-TV operator Sky Deutschland to 39.96%. The company, headed by Rupert Murdoch, previously held 30.5% in the Premiere successor.
A News Corp spokesman hinted that a further increase was not immediately planned. “We are very satisfied with our current stake in Sky,” he explained, adding that the media group increased its holding because of Sky Deutschland’s favourable share price. The News Corp stake is now approximately that of its share in BSkyB in the UK.
At the Frankfurt stock exchange News Corp’s purchase of the additional shares was taken as a sign of proof that the company believed in Sky Deutschland’s potential – at times pushing Sky’s shares up by more than 10%.