Premiere CEO buys company shares

German pay TV channel to re-launch next month

BERLIN -- Mark Williams, CEO of Premiere has put his money where his mouth is, buying up additional shares worth €1.8 million ($2.5 million) in the German pay TV channel.

Williams bought an additional 700,000 Premiere shares in three installments over the past week. This adds to the 550,000 shares Williams bought in April for €773,000 ($1.1 million).

His personal investment is being read as a demonstration of confidence in Premiere ahead of the channel's much ballyhooed re-launch -- as Sky Deutschland -- next month.