Press Releases
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BaFin exempts News Corporation from mandatory public offer for Premiere AG
January 30, 2009 –
News Corporation was today granted an exemption by the German Federal Financial Supervisory Authority (“BaFin”) from the requirement to make a mandatory public offer for Premiere AG in the event News Corporation’s equity share in Premiere AG reaches or exceeds 30 percent in connection with the ongoing restructuring process.
On 23 December 2008, Premiere announced an agreement with its bank syndicate and News Corporation to raise at least EUR 450 million of equity capital by two capital increases, one of which has already been implemented.
News Corporation has agreed to backstop the second capital increase, subject to receipt of the Bafin exemption that has now been granted and approval of the second capital increase by an extraordinary meeting of Premiere shareholders, which is scheduled for February 26, 2009, as well as other customary closing conditions.
News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of September 30, 2008 of approximately US$61 billion and total annual revenues of approximately US$33 billion. News Corporation is a diversified global media company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers and information services; book publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.
BAFIN notice of exemption (January 30, 2009)
BAFIN notice of exemption, convenience translation (January 30, 2009)
Press Contact:
Daisy Dunlop
+44 20 7782 6019
daisy.dunlop@newsint.co.uk