Murdoch boosts stake

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Australian-born media tycoon Rupert Murdoch's group said on Monday it had paid about 400 million euros (534.64 million dollars) to secure a majority stake in the Munich-based pay TV group Sky Deutschland.

The 81-year-old Murdoch wants to increase News Corp's holding in loss-making Sky Deutschland from just under 50 per cent to 54.5 per cent.

Under the deal, Sky will sell 77.9 million new shares at 4.46 euros each to News Adelaide, an offshoot of US-based News Corp, to raise 347.4 million euros (465 million dollars), Sky said in a statement.

The German pay TV group also unveiled a new set of bank loans totalling over 300 million euros, which are to be guaranteed by News Corp.

Sky Deutschland's subscribers rose by 12 per cent to about 3.36 million last year, the Munich-based company said. - Sapa-dpa


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