News Corp takes majority stake in German pay-TV

News Corp becomes majority shareholder in German pay-TV Sky Deutschland

Associated Press

BERLIN (AP) -- A wholly owned subsidiary of Rupert Murdoch's News Corp. has taken a majority stake in German pay-TV Sky Deutschland.

The Munich-based channel said in a statement Monday that News Adelaide has increased its holding in Sky Deutschland to 54.5 percent for €347.4 million ($461.14 million).

Sky Deutschland says News Corp. has also agreed to guarantee a €300 million bank loan and the channel's license fee payments to the German Football League for the Bundesliga seasons through 2016/2017.

Some 3,363,000 customers paid for Sky Deutschland's subscription service last year.

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