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Murdoch owns majority of German Sky
Published: 14 Jan 13 15:54 CET | Print version
Online: http://www.thelocal.de/money/20130114-47325.html
Australian-American media tycoon Rupert Murdoch has secured a majority stake in Sky Deutschland, the paid-for television broadcaster which has the rights to the Bundesliga's top-flight German football matches.
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As the Handelsblatt newspaper reported, Murdoch's News Corp bought up 15 percent of Sky Deutschland at the start of 2008 before scaling that up.
"Our new long-term financial structure now gives us the possibility and the room to further develop Sky as a businss and to implement our strategy," said Brian Sullivan on Monday.
Last year he secured the rights to the Bundesliga, for nearly €2 billion, pushing out Deutsche Telekom - although Sky has since done a deal with Telekom so that its customers can get access to the games.
The Handelsblatt said the Murdoch majority takeover was not unexpected - and was being taken by the industry as a demonstration of his belief in the future of German pay-TV.
Insiders had speculated that Murdoch would take this step ever since last November when the Munich Finance Office decided that a tax credit worth billions of euros would not be invalidated if he increased his share.
Sky Deutschland has made a loss almost since it was launched, but is now making progress towards the black, the Handelsblatt said.
The Local/hc
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