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FCC Gives OK to Liberty Media’s DirecTV Buy

Feb 25, 2008  •  Post A Comment

The Federal Communications Commission is giving its final approval to Liberty Media’s purchase of News Corp.’s stake in DirecTV. The move completes the unwinding of Rupert Murdoch’s and John Malone’s roles in each other’s companies.
Under the arrangement, Mr. Malone’s Liberty will pay $550 million and cede its 16% stake in News Corp., worth $11 billion, in exchange for News Corp.’s 38.5% stake in DirecTV. Liberty also will get three regional sports networks.
The FCC approved the deal Monday, subject to Liberty agreeing to some program access and carriage consent for regional Fox Sports Network programming.
The FCC also required that Liberty sever its ownership of Liberty Cablevision of Puerto Rico.

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