British Sky Broadcasting plans to sell new stock worth £340 million ($541 million) to help pay for its acquisition of a 24% stake in Germany’s KirchPayTV.
BSkyB announced Dec. 6 that the issuing of shares would in part finance the $1.5 billion deal, the satcaster’s first major move outside the U.K. and Ireland.
The offering will dilute News Corp.’s controlling stake in BSkyB from 40% to about 37.5%.
Move comes at a time when digital takeup is booming in Britain. BSkyB said it has now signed up 3 million subscribers to its SkyDigital platform, 2.8 million of which are installed.
Veteran journalist Pamela Wallin has signed a deal to host and produce shows for the CTV Network and its stable of specialty channels, including soon-to-launch digital web Talk TV.
Twentieth Century Fox Mexico and Videovisa, the video distrib arm of Televisa, have inked a deal to promote video sales and rentals.
The two want to increase points of sale, improve distribution and compete effectively against the growing rivalry of pay TV. Under the deal, they will also develop strategies to fight piracy.
Indian conglom Sahara launched its first entertainment Hindi language satellite TV channel on Tuesday.
Company has plans to launch a movie web and a news web later this year. Sahara has already acquired satellite rights for 150 Bollywood feature films.
Sahara is also teaming with Aussie mogul Kerry Packer to launch an international sports and events satellite web by fall.