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A subsidiary of News Corporation (ASX:NWS) has upped its stake in German pay-tv company Sky Deutschland.
News Adelaide boosted its interest in the company to 54.5 per cent for about $443.76 million.
The Munich based channel who has a customer base of about 3.4 million customers, says News Corp will also guarantee a 300 million euro bank loan as well as the channel’s licence fee payments for German Football League.
News Corp began building a stake in Sky Deutschland, formerly known as Premiere, in 2008.
The move comes as the media group splits its publishing and entertainment assets into separate publicly traded companies.
News Corporation reported a net profit of $1.4 billion in the 2012 financial year.
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