Premiere Raises 39 Million Euros in Capital Increase

January 15, 2009 World Screen

BERLIN, January 15: German pay-TV platform Premiere has issued 10.2 million new shares, raising a total of 38.44 million euros in the first stage of a two-part capital increase.

The shares were issued for 3.76 euros each. A second share issued is expected later this year. According to reports, the funds will be used for a restructuring plan at the platform. The share issue does alter News Corporation’s stake in Premiere, which currently stands at 25.01 percent.

—By Mansha Daswani