News Corporation Acquires 14.58 Percent Interest in German Pay-TV Operator, Premiere AGMonday, January 7th, 2008
NEW YORK, NY — News Corporation announced today it has acquired a 14.58 percent stake in Premiere AG, the leading German pay-TV operator for 287 million Euro in cash.
“Pay-TV is a core business for News Corporation and it’s a category that’s thriving across Europe with a multitude of new services and innovations. We see enormous potential for growth in Germany and believe the time is right to invest in its foremost pay-TV business, Premiere,” said Rupert Murdoch, News Corporation’s Chairman and Chief Executive.
With over 10 million viewers and more than four million subscribers, Premiere AG is the leading pay-TV operator in Germany and Austria.
News Corporation’s European pay-TV holdings include a 39 percent stake in BSkyB, the number one pay-television group in the U.K. with more than 8.7 million subscribers, and its wholly-owned Sky Italia, Italy’s leading pay-television provider with over four million subscribers.