DIRECTV Ups SKY Brasil Stake

EL SEGUNDO: DIRECTV has increased its ownership of SKY Brasil to about 93 percent, purchasing 178.83 million shares from Globo Comunicação e Participações for $604.8 million.

With the sale of 18.9 percent of the platform to DIRECTV, Globo now owns just 7 percent of the company. The Brazilian broadcaster will continue to provide its programming to SKY under pre-existing agreements. Globo retains the right, until January 2014, to exchange all of its remaining equity interests in SKY Brasil.

SKY Brasil has more than 2 million subscribers, about 26 percent of the pay-TV base in Brazil.