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Article: Murdoch's German pay TV bargain not so cheap now.
- Article from:
- Australasian Business Intelligence
- Article date:
- November 4, 2008
CopyrightCOPYRIGHT 2008 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Miriam Steffens
Nov 04, 2008 (The Sydney Morning Herald - ABIX via COMTEX) -- Australian-listed global media group News Corporation earlier in 2008 acquired a stake of 25% in German pay TV provider Premiere. The latter's shares initially collapsed but have now risen rapidly in value, closing 46% higher at EUR2.75 ($A5.20) on 3 November 2008. The reason is that Premiere is emerging as the likely successful tenderer for the rights to the German Bundesliga soccer league. This means News may find it harder to expand its holding and move to a full acquisition. It originally paid EUR350m, but at present Premiere is worth only EUR309m overall, due to its ...
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