News Corp increases Sky Deutschland stake

Rupert Murdoch’s News Corp is moving in on Sky Deutschland by increasing its holding in the German pay TV broadcaster.

The broadcaster is not performing that well, especially when compared with the likes of BSkyB, which has really bucked the trend over recent quarters, bringing in some good figures.

Sky Deutschland has announced a revision on the net earnings for 2011, as well as announcing that News Corp would be increasing its stake to around 45.4 per cent.

This will follow the issuing of almost fifty million new shares.

As a result of this deal the broadcaster is expecting to gain between 110 million Euros and 120 million Euros.

The firm will then use this cash to market the service to new subscribers.

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