MUMBAI: News Corporation today has agreed to subscribe to up to 49 million new registered shares in Sky Deutschland AG via a capital increase that is expected to raise between €110 million and €120 million.

As a result, News Corporation’s stake in Sky Deutschland will increase from its current position of 39.96 percent up to a maximum of 45.4 percent.

The issue price of the new shares will be the greater of €2.25 or the volume-weighted average price on XETRA over the five trading days prior to the resolution of the capital increase less a discount of 3 percent. The capital increase is expected to occur in the course of January 2010.