News Corp. ups stake in Premiere
Now controls more than 25% of the companyMUNICH -- Rupert Murdoch's News Corp. announced late Monday European time that it has raised its stake in Premiere, Germany's top pay TV operation, to 25.01%.
News Corp. began 2008 by acquiring a 14.58% share in the company from German cable operator Unitymedia, becoming Premiere's biggest investor.
Murdoch has increased his interest incrementally but steadily over the past few months. Premiere's share price has also risen slightly in that time, from 12.70 euros ($19.70) to 13.50 euros ($20.94).
In addition, Murdoch has recommended the Premiere supervisory board be expanded to include members of News Corp. management. Premiere's stockholders will vote on the proposal at the annual meeting on June 12.