Liberty Media Corp. said Wednesday that it would split off several of its television and communications businesses, including its 50 percent stake in DirecTV Group Inc., into a publicly traded company.

Partial ownership of the El Segundo-based satellite television provider would become part of Liberty Entertainment Inc., which would be responsible for paying off roughly $2 billion in debt incurred when Liberty Media acquired its DirecTV stake from News Corp. and then expanded it.

Liberty Entertainment, a division of Liberty Media already with a tracking stock, now will include Starz Entertainment, and the partial stakes Liberty owns in FUN Technologies, Liberty Sports Holdings LLC, GSN LLC and WildBlue Communications Inc.

The move would be tax free for tracking stock holders, who will receive additional shares.

The move dampens speculation that Englewood, Colo.-based Liberty might be open to a buyout offer by DirecTV’s smaller rival Dish Network Corp. Executive officers of Liberty also will serve as the executive officers of Entertainment, the company said.

Liberty Media acquired DirecTV in a April stock swap in which it gave up its share of News Corp., ending a feud between Liberty Median titan John Malone and News Corp. chief Rupert Murdoch. Liberty then acquired additional shares to raise its ownership stake.

DirecTV shares were down 36 cents, or 1 percent, to $27.26 in morning trading on the Nasdaq.