Murdoch, Malone Stock Swap Queries

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Regulators requested information regarding the planned $11 billion asset swap that would shift control of DirecTV Inc. from News Corp. to Liberty Media Corp, indicating that an official investigation of the deal may be forthcoming.


The U.S. Federal Communications Commission sent Rupert Murdoch’s News Corp. and John Malone’s Liberty Media five pages of questions last Friday in an effort for the agency to better assess the deal’s potential impact on competitors and consumers, the FCC said Wednesday.


The agency requested data on sports programming agreements, stock transactions and subscriber numbers.


Murdoch agreed back in December to buy back shares in News Corp. held by Liberty Media in exchange for its 38 percent stake in the El Segundo-based satellite TV provider, plus $550 million in cash and three regional sports networks. The FCC, which began reviewing the transaction in February, gave the companies until July 9 to answer its questions.


El Segundo-based DirecTV is the nation’s largest satellite TV provider.


Shares in DirecTV slipped 60 cents, or 2.4 percent, to $23.95 in afternoon trading Wednesday on the New York Stock Exchange.

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