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News Corp tightens grip on Sky Deutschland
Jörn Krieger ©RapidTVNews | 15-03-2010
Sky Deutschland wants to expand its supervisory board, opening the door for main shareholder News Corp to gain more influence on the German pay-TV operator.
At the broadcaster’s general assembly on April 23 in Munich the shareholders will be asked to elect three new members to the supervisory board, as the invitation to the meeting reveals.
The proposed new members are lawyer Michael Arnold, partner at German law firm Gleiss Lutz Hootz Hirsch, Chase Carey, deputy chairman, president and COO of News Corp, and consultant Katrin Wehr-Seiter who used to work for private equity group Permira. With the step, Sky wants to benefit from the expertise of the additional members, the company says. The supervisory board would then have nine members.
News Corp’s decision to send Carey into the supervisory board is seen by analysts as a further measure by the media concern to strengthen its influence on Sky. Carey, who directs News Corp’s international activities from its headquarters in New York, is a close confidant of News Corp head Rupert Murdoch.
Furthermore, News Corp wants to gain permission from the shareholders at the general assembly for a further strong capital increase at Sky Deutschland if required.
© Rapid TV News 2010
