News Corp. Ups Holdings in Sky Deutschland

UNTERFÖHRING: News Corporation has raised its holding in Sky Deutschland from 49.9 percent to 54.4 percent, following a 348 million euros ($464 million) transaction for new Sky shares.

Also as part of the deal, News Corp. will guarantee certain rights payments associated with Sky Deutschland’s Bundesliga broadcasting license and support the raising of additional funds of 438 million euros to support SkyD. As a result of this transaction Sky Deutschland will become a consolidated entity of News Corporation.

"We have always believed in Sky Deutschland’s ability to transform the pay-TV experience in Germany and Austria and this new financing structure further validates that longstanding commitment," said Chase Carey, the president and chief operating officer of News Corporation. "News Corporation’s continued investment underscores the value we see in Sky Deutschland and the significant market opportunities it faces, and reflects our confidence in its management team and their strategies for growth."