Rupert Murdoch plans to forge a new pan-European pay TV group with his British-based BSkyB paying 4.9 billion pounds (8.3 billion dollars) in cash to buy the media mogul’s television offshoots in Germany and Italy.
Until now, the German and Italian pay TV operations had been owned by the US media group 21st Century Fox, which is also part of the Murdoch business empire. Under the deal, while BSyB will take over Sky Italia completely, it will acquire a 57-per-cent stake in Sky Deutschland.
Source : Sapa-dpa /kd
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