Report: FCC to OK DirecTV, Liberty Deal

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The Federal Communications Commission is set to back Liberty Media Corp.’s purchase of a controlling stake in DirecTV Group Inc., unnamed sources said.


Bloomberg News is reporting that the three Republicans on the five-member panel have voted in private for the $12 billion deal, and the two Democrats may vote today. The Justice Department is also reviewing the deal.


The deal, which was announced in December of 2006, has Liberty, which is controlled by cable mogul John Malone, taking a majority stake in the El Segundo-based satellite TV provider through a $12 billion asset swap with News Corp.’s Rupert Murdoch. Since the swap was announced, many industry analysts have speculated that Liberty may buy the rest of the company and spin it off.


Once complete, Liberty will have a 41 percent stake in the largest satellite TV provider in the U.S. News Corp.’s Murdoch will get a 19 percent stake in Liberty as part of the agreement.

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