UK satellite broadcaster BSkyB's shares slid to a three-month low yesterday after Germany's KirchPayTV sold its remaining 3.1% stake in the company for $862m (£594.5m).
KirchPayTV, which houses digital platform Premiere World, acquired a 4.3% stakes in BSkyB last December. At the same time, the UK company bought a 24% stake in KirchPayTV. Kirch offloaded some of its BSkyB stake in June.
Meanwhile, BSkyB's investment in Premiere World was given the greenlight yesterday by German anti-media concentration body KEK. The European Commission cleared the deal in March with several conditions (Screendaily, March 23).
In July, the German press speculated that Rupert Murdoch's News Corp, which part owns BSkyB, would acquire a stake in Kirch Media which encompasses Kirch's free TV and rights trading interests (Screendaily, July 31).