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Business - BSkyB to pay $9 billion to create Sky Europe

By Kate Holton and Leila Abboud LONDON/PARIS (Reuters) - Britain`s BSkyB has agreed to pay $9 billion to buy Rupert Murdoch`s pay-TV companies in Germany and Italy, taking its hunt for growth into Europe by creating a media powerhouse with 20 million customers. BSkyB, in which Murdoch`s 21st Century Fox is also the largest shareholder, will pay for the deal using cash, debt, its stake in a TV channel and a placing of shares that represents around 10 percent of its issued share capital. BSkyB had flagged a possible deal for Sky Deutschland and Sky Italia in May. The price announced on Friday was slightly lower than expected by some analysts and the cost and revenue benefits laid out by BSkyB were greater than anticipated.

Friday, July 25, 2014  11:21


Business - Murdoch`s 21st Century Fox pledges to extend buybacks

Rupert Murdoch`s 21st Century Fox said on Friday it would renew a share buyback program using the proceeds from its partial exit from European pay-TV, regardless of any acquisitions the media group undertakes. The company made the pledge in a statement announcing the sale of Fox`s Italian and German pay-TV units to BSkyB for $9 billion in cash and assets. `For fiscal 2015 we will continue our share buyback program and will communicate the details of a renewed share buyback authorization upon the announcement of fiscal 2014 earnings results on Wednesday, August 6, 2014.` In August 2013, Fox`s board authorized a $4 billion share buyback over the next 12 months. Murdoch, chairman and CEO, added: `Our renewed authorization for our share buyback program will be executed regardless of any potential acquisition or investment activity by the Company.` Fox recently made an unsolicited $80 billion bid for media conglomerate Time Warner, which was rejected by its management as too low.

Friday, July 25, 2014  10:27


World - Iranians tell Palestinians to fight against Israel-state TV

By Parisa Hafezi ANKARA (Reuters) - Iranians took part in huge rallies across the country on Friday to show solidarity with Palestinians, urging them to keep up their struggle despite the Israeli assault on Gaza, Iranian state television reported. They chanted `Death to Israel` and `Death to America` and carried pictures of Palestinian children killed in Gaza. State media said `millions` of people joined the rallies nationwide, which were called to mark Iran`s annual day of solidarity with Palestinians. The Iranian government has condemned Israel`s offensive against Gaza, which has killed more than 800 people, most of them civilians.

Friday, July 25, 2014  12:00


World - BSkyB to take over Italian, German pay TV networks

LONDON (AP) — London-based satellite broadcaster BSkyB has announced agreements to purchase Sky Italia and 57 percent of Sky Deutschland from 21st Century Fox.

Friday, July 25, 2014  09:34


World - BSkyB reveals deal to create pan-European pay TV giant

British satellite television group BSkyB said on Friday it had agreed multi-billion-dolla deals with Rupert Murdoch`s media empire 21st Century Fox to create a pan-European pay-TV giant. Murdoch`s 21st Century Fox media conglomerate owns 39 percent of BSkyB. BSkyB has agreed to buy 21st Century Fox`s 100-percent stake in Sky Italia and its 57.4-percent interest in Sky Deutschland, a statement said. BSkyB said it planned to acquire the rest of Sky Deutschland from the German group`s minority shareholders, creating a pan-European TV giant in deals costing the British group a total of up to £7.0 billion ($11.9 billion, 8.8 billion euros) in cash.

Friday, July 25, 2014  08:41


World - Ultra high definition TVs boost LG Display profit

SEOUL, South Korea (AP) — LG Display Co. says its earnings for the April-June quarter more than doubled thanks to improved demand for ultra-high-definition TVs.

Wednesday, July 23, 2014  08:14


Europe - BSkyB pays £5bn to create Sky Europe

BSkyB wants to take over Rupert Murdoch`s pay TV companies in Germany and Italy in a move that would create a company with 20 million European viewers.

Friday, July 25, 2014  08:28


Business - BSkyB to pay $8 billion to create Sky Europe

Britain`s BSkyB has agreed to pay around 4.9 billion pounds ($8.3 billion) to buy Rupert Murdoch`s pay-TV assets in Germany and Italy, responding to the slowing growth at home with a deal to create a European media powerhouse. BSkyB, 39-percent owned by Rupert Murdoch`s 21st Century Fox, will pay for the deal with cash, debt and by a placing of shares that represents around 10 percent of the firm`s issued share capital. BSkyB said under the deal it would pay 2.45 billion pounds for Sky Italia and 2.9 billion pounds for Fox`s 57 percent stake in Sky Deutschland to create a combined group with nearly 20 million customers. The payment for Sky Italia will be made up of cash and BSkyB`s stake in the National Geographic Channel.

Friday, July 25, 2014  07:34


World - Storm kills two, injures 31 at Virginia campground

By Ian Simpson WASHINGTON (Reuters) - A likely tornado tore through an eastern Virginia campground on Thursday, killing two people and injuring 31 as it downed trees and overturned vehicles, officials said. The storm swept across the Chesapeake Bay and slammed into the seaside Cherrystone Campground at Cape Charles, Virginia, during the busy summer season, bringing hail, high winds and heavy rain. `It was very scary, a lot of people were still in their beds` when the storm struck, area resident Amanda Blankenship told ABC affiliate WVEC-TV in Hampton Roads, Virginia. Photos on WVEC showed vehicles overturned or their roofs smashed in by fallen trees at the campground about 100 miles south of Washington at the tip of the Delmarva Peninsula.

Friday, July 25, 2014  02:40


World - Shelling of Gaza school kills at least 15; toll nears 800

United Nations Secretary-General Ban Ki-moon expressed horror at the Thursday attack on the school at Beit Hanoun in the northern Gaza strip. I strongly condemn this act.` Ban later arrived at Cairo where he was expected to meet U.S. Secretary of State John Kerry, who has been working the telephones to try to broker a truce. Israel Defence Forces spokesman Lieutenant-Colonel Peter Lerner told Reuters TV: `It could be errant fire from the IDF or rockets landing from Gaza terrorists but we still don`t know, there`s still a question mark.` A spokesman for the U.N. Relief and Works Agency said it had tried in vain to arrange an evacuation of civilians from the school with the Israeli army, and noted reports of Hamas rockets falling in the area at the same time.

Friday, July 25, 2014  02:40

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