Australian media giant News Corp. said Friday it has sold its entire 8.1 percent stake in satellite broadcaster Sky Perfect Communications Inc. to three Japanese companies.
The three firms are Fuji Television Network Inc., Sony Broadcast Media Co. and Itochu Corp.
They are the three largest shareholders in Sky Perfect.
Their equity stake rose to 12.7 percent apiece with the purchase of Sky Perfect shares held by a News Corp. subsidiary.
News Corp. did not disclose the sale price or the reasons behind the deal, stating merely that it wants to maintain cooperative relations with Sky Perfect.