This was reported today on transmitter news.com.
Liberty Media To Get DIRECTV
It appears that two long standing media rivals have buried the hatchet at least long enough to put the News Corp/Liberty Media deal to bed.
It is being reported in The New York Times' Web site that Rupert Murcoch's News Corp will transfer its controlling stake in DIRECTV to Liberty Media as a part of a deal to buy back News Corp stock from Liberty. In the deal, it is reported that Liberty will get DIRECTV, three regional sports networks and $500 million in cash for the News Corp shares it owns. In return, Liberty would give Murdoch it's 19 percent voting stake as well as their 15 percent nonvoting stake in News Corp, reported the New York Times citing a banker and executive close to the deal.
We will be following this closely and posting updates as they are available.
