LONDON: Britain’s BSkyB has agreed to pay $9 billion to buy Rupert Murdoch’s pay-TV companies in Germany and Italy, taking its hunt for growth into Europe by creating a media powerhouse with 20 million customers.

BSkyB, in which Murdoch’s 21st Century Fox is also the largest shareholder, will pay for the deal using cash, debt, its stake in a TV channel and a placing of shares that represents around 10 per cent of its issued share capital.

Published in Dawn, July 26th, 2014