Vox rescued by Murdoch stake

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VOX, the German television station, has been rescued from liquidation by Rupert Murdoch's News Corporation, writes Gail Counsell.

News is taking a 49.9 per cent stake in the company set up by the media giant Bertelsmann, which has a 24.9 per cent stake.

Vox had lost more than DM330m by the end of last year, and its viewing figures have been consistently lower than expected.

The threat of closure first loomed in February when Sueddeutsche Zeitung newspaper sold its 20 per cent stake, followed closely by Westdeutsche Landesbank ditching its 25.1 per cent.