Premiere scores Bundesliga rights
Premiere, Germany's only pay-TV firm, has swapped a stake in the company for the rights to offer live games from the country's top football league.
It has struck a deal running until 2017 to distribute Bundesliga games shown by the current rights holder, Arena.
The deal means that Premiere can offer its subscribers more top matches, while Arena can reach more viewers.
Shares in Premiere rose 20% on the news, which sees Arena receive a 16.7% stake in the pay-TV company.
Agreement
Premiere had held the rights itself until it lost them last year - wiping out almost half the company's value.
After Arena won the rights for the 2006/7, 2007/8 and 2008/9 seasons, Premiere negotiated deals to broadcast Bundesliga games through cable and the internet.
The latest deal will also allow it to broadcast the games via satellite.
"The new, extended distribution agreement with Arena re-establishes Premiere as the prime pay-TV marketer of Bundesliga soccer in Germany," the company said.
"Our Bundesliga market potential now exceeds 30 million TV households in Germany."
Premiere also raised its earnings forecasts for 2007 and 2008 on the back of the deal.
