Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, January 14, 2013

News Corp to raise stake in SkyD after capital increase, (NASDAQ: NWSA)

Rupert Murdoch's News Corp will increase its stake in Sky Deutschland to 54.5 percent following a capital increase by the German pay-TV company.Sky Deutschland on Monday said it was raising gross proceeds of 347 million euros ($463.1 million) by issuing 77.9 million shares to News Adelaide, an indirect subsidiary of News Corp, at 4.46 euros apiece, a 3 percent discount to Friday's closing price.In November, German financial authorities cleared the way for News Corp -- which so far holds a 49.9 percent -- to own a majority in Sky Deutschland.News Corp began building a stake in the company, formerly known as Premiere, in 2008 and has participated in several rights issues of the struggling German pay-TV broadcaster.

News Corporation is a diversified global media company. Shares of NWSA fell by 0.15% or $-0.04/share to $26.93. In the past year, the shares have traded as low as $13.55 and as high as $24.04. On average, 19309000 shares of NWSA exchange hands on a given day and today's volume is recorded at 12274487.