Rupert Murdoch re-invests in company he lost $1 billlion on earlier

The man just continues to expand his reach it seems like every month or something like that. Media King Rupert Murdoch has swallowed a 14.6% stake in German pay-TV operator Premiere for for a reported $214 million just five years after losing $1 billion in an earlier investment in the same broadcaster. It looks like Rupe did a pull out and step back after losing that $1 billion and now that things are looking a little more firm, he is back with a fresh investment. Back when he lost the $1 Billion, King Rupe described it as a black eye. But today he is singing a new tune. -SDH "Pay-TV is a core business for News Corporation and it's a category that's thriving across Europe with a multitude of new services and innovations," Rupert Murdoch said. We see enormous potential for growth in Germany and believe the time is right to invest in its foremost pay-TV business, Premiere." News Corp buys stake in German pay-TV firm [Guardian]