News Corp boosts Premiere stake

**chris** · 07-04-2008

As predicted last week, News Corp has increased its holdings in Germany pay-TV operator Premiere from 19.9% to 22.7%. The purchase of the 2.8% cost News Corp around $70m (€44m). Most analysts expect the buying spree to continue, but probably to below the legally important 30% where News Corp would then have to make a formalised offer for the whole business. The new stake has seen News Corp progress from its initial stake of 14.58% which it acquired in February.

The next step will be for News Corp to take a seat on Premiere’s executive Board, and this is expected to see James Murdoch voted in at the June 12 Board Meeting. News Corp’s experience in pay-TV is seen as being more than useful in discussions now scheduled between Premiere and Leo Kirch over German soccer rights held by Kirch.

source: Rapid TV News

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