News Corp raises stake in Premiere
NEW YORK (Reuters) - Rupert Murdoch's News Corp NWSa.N said on Thursday it boosted the company's stake in Premiere AG PREGn.DE to 19.9 percent, sending shares of the German pay-television operator up over 4 percent.
In early January, News Corp's purchase of a 14.58 percent stake set off speculation Premiere would be a takeover candidate and marked Murdoch's return to the German TV market.
A News Corp source said the company was "comfortable" with its current position but "we will continue to evaluate and keep our options open."
James Murdoch, News Corp chairman and chief executive for Europe and Asia said in a statement: "We're looking forward to working constructively with Premiere's management on the growth and future direction of the business."
News Corp, which owns the Wall Street Journal, a 39 percent controlling stake in BSkyB (BSY.L) and Sky Italia, sees Eastern Europe and Asia as key pillars to future growth.
Premiere, founded by media entrepreneur Leo Kirch, has been the target of speculation French media group Vivendi (VIV.PA) was interested in it.
Premiere shares closed 4.4 percent higher at 15.12 euros on the Frankfurt stock exchange.
(Reporting by Kenneth Li; Editing by Tim Dobbyn)
