A wholly owned subsidiary of Rupert Murdoch's News Corp. has taken a majority stake in German pay-TV Sky Deutschland.
The Munich-based channel said in a statement Monday that News Adelaide has increased its holding in Sky Deutschland to 54.5 percent for 347.4 million euros ($461.14 million).
Sky Deutschland says News Corp. has also agreed to guarantee a €300 million bank loan and the channel's license fee payments to the German Football League for the Bundesliga seasons through 2016/2017.
Some 3,363,000 customers paid for Sky Deutschland's subscription service last year.
© Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.