Murdoch boosts cash injection for pay TV Sky
The chronically loss-making pay-TV channel Sky Deutschland needs even more money from its major shareholder Rupert Murdoch.
The cash injection of 340 million euros from Murdoch's media group News Corporation agreed in the summer will be increased to 400 million euros. The money is needed to support the positive business development of the past quarters, Sky announced on Wednesday according to the news agency SDA. Murdoch has already had to pump fresh money into the listed company four times since he joined in 2008.
Sky gained 131,000 new subscribers in what is usually the strongest fourth quarter of 2010. This is significantly more than the 39,000 in the same period last year. At the end of the year, the company formerly known as Premiere had a total of 2.653 million paying customers.
