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Bulletin: News Corp. Rating Unaffected By Sky Deutschland Financing Feb 12
Standard & Poors, Feb 2012
Abstract
NEW YORK (Standard & Poor's) Feb. 2, 2012--Standard & Poor's Ratings Services said today that its ratings on News Corp. (BBB+/Watch Neg/--) are unaffected by the company's announcement that it will support -300 million in financing at Sky Deutschland AG, a German pay-TV operator in which News Corp. currently holds a 49.9% stake. Sky Deutschland recently announced that its subscribers reached three million at the end of 2011, and that the company believes it will generate positive EBITDA in 2013. We expect Sky to use proceeds to continue to invest in sports and entertainment content to drive growth. The transaction is structured so that News Corp's shareholdings will not increase over 49.9%, unless it chooses to do so. At 50%,...
Companies mentioned in this report are: News Corp.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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