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Approval for Liberty-DirecTV purchase

February 27, 2008 09.00 Europe/London By Julian Clover

News Corp has lost its grip on DirecTV after the US Justice Department gave anti trust approval on Liberty Media’s acquisition of a controlling stake in the group. The decision came just 24 hours after the Federal Communications Commission gave its own green light to the transaction. The FCC said it was requiring Liberty and DirecTV to continue with rules covering channel access previously placed on News Corp.

The deal between News and Liberty was made in December 2006 when News agreed to transfer its controlling stake in DirecTV for $550 million (€370m) cash and three regional sports network in return for Liberty’s 16.3% in News Corp.

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Filed Under: Finance, Newsline Edited: 27 February 2008 09:00

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About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on X @julianclover, or by email at jclover@broadbandtvnews.com.

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