News Corp. buys stake in TV firm
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Global media company News Corp. said it bought almost 15% of Premiere, Germany’s biggest pay-TV operator.
The New York company, whose holdings include Fox News Channel and Star TV, said it paid cable operator Unitymedia in Cologne $422.5 million in cash for a 14.58% stake. Unitymedia said it received 17.50 euros ($25.75) for each of its 16.4 million shares in Premiere.
Premiere has more than 4 million subscribers in Germany and Austria to its television and digital radio channels, whose offerings include live soccer and first-run movies.
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