FCC Approves DirecTV, Liberty Transfer
By Staff Writer | February 26, 2008
[Satellite Today – 2-26-08] The U.S. Federal Communications Commission (FCC) has approved the transfer of control of DirecTV to Liberty Media Corp., DirecTV announced Feb. 26.
Liberty Media will exchange its 16.3 percent stake in News Corp. for News Corp.’s 38.5 percent stake in DirecTV Group Inc. along with $550 million in cash and control of regional sports networks in Denver, Pittsburgh, and Seattle.
Liberty Media and News Corp., which is the majority stakeholder of DirecTV, will sever their ownership interests with each other.