News Corp Pays $586M For Majority Stake In German TV Co.

Law360, New York (January 14, 2013, 4:20 PM EST) -- New York-based media giant News Corp. has acquired a majority stake in German television company Sky Deutschland AG after injecting €438 million ($585.5 million) of equity into the firm, News Corp announced Monday.

News Corp. will provide the equity through a private placement of Sky Deutschland shares and a rights offering, it said. Rupert Murdoch's media company also will guarantee a new €300 million five-year bank credit facility that will replace Sky Deutschland's existing debt facilities.

In return for the new equity, News Corp. will see...
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