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Premiere details new share issue


January 09, 2009 German pay TV group Premiere has announced details of its new share issue, which will see the company issue as many as 10.2 million at 3.76 euros ($5.15) each. The goal is to raise at least 25 million euros ($34 million), cash needed for the first stage in CEO Mark Williams' plan to restructure the troubled television group. News Corp., however, will keep its total stake in Premiere below the key 30% mark, above which News Corp. would be required to make a buyout offer to Premiere minority shareholders.

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