Murdoch mulling boosting his German media stake: Report

April 15th, 2008 - 7:29 pm ICT by admin  

Berlin, April 15 (DPA) Australian-born media mogul Rupert Murdoch is considering boosting his stake in the German pay-TV group Premiere AG to between 25 and 26 percent, the Wall Street Journal reported Tuesday. Murdoch’s News Corp said earlier this month that it had increased his Premiere stake to 22.7 percent after it acquired a 14.6-percent stake in the group in January. Under German law, a 30-percent holding would require a company to mount a takeover offer.

Now a US citizen, Murdoch has for a long time considered possible corporate moves into Germany, which is Europe’s biggest advertising market.

The New York-based Murdoch took a keen interest in the break-up of the German media baron Leo Kirsch’s business empire, which previously included Premiere, after it went into receivership about seven years ago.

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