EU examines Murdoch’s Premiere stake

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The EU Commission is placing media mogul Rupert Murdoch’s entry into German pay-TV operator Premiere under the microscope.

“We are examining the shares acquisition because it seems that [News Corp] could de facto gain control over the company,” said a spokesperson from the Commission in Brussels, referring to the 22.7% share which Murdoch’s international media company News Corp currently holds in Premiere. With this stake, Murdoch could wave through decisions or block them at the annual general meeting.

“Of course we will only form a conclusive opinion after the examination,” explained the spokesperson. The EU Commission wants to decide by June 11 whether they will give an unrestricted green light, place conditions or conduct a more in-depth investigation.

News Corp acquired a stake in the Munich-based broadcaster at the beginning of January when it purchased the 14.58% share held by cable operator Unitymedia and since then has gradually increased the holding. Murdoch wants to further increase his influence at Premiere through two representatives which he plans to have elected to the supervisory board at the next annual general meeting on June 12.




Source: Rapid TV News

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