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Sky Deutschland settles investor suit

January 31, 2011

Sky Deutschland is to pay €14.5 million in compensation to institutional investors who claim they suffered losses as a result of the pay TV operator overstating of subscriber numbers.

When News Corp took control of Sky Deutschland in 2010 it restated subscriber figures for 2008 from three million down to only 2.4 million, and the share price halved.

Sky will pay the damages in an out-of-court deal settlement between the broadcaster  and investors in Germany, Luxembourg, Switzerland and the US. The complainants had originally demanded a reported €242.5 million in compensation.

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