BERLIN — Further details of a much anticipated pay TV deal between Germany’s the Kirch Group and Rupert Murdoch were revealed over the weekend.
In return for giving Murdoch a 24.9% stake in Kirch’s digital pay TV platform Premiere World, Kirch is to get a 4% stake in the U.K.’s BSkyB pay TV venture.
Last week, the global mogul said the pact would be worth in excess of $1 billion and that he had been offered a 25% stake in Premiere World, Germany’s leading pay TV venture.
Murdoch long has been looking for a way to expand into the German marketplace. He currently holds a 66% stake in weblet TM3 as well as a stake in the Vox channel.
Murdoch also has confirmed an interest in joining other bidding groups for a stake in German cable systems owned by telco Deutsche Telekom that are on the block.