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ENGLEWOOD, Colo., Dec. 22 /PRNewswire-FirstCall/ -- Liberty Media Corporation (Nasdaq: LINTA, LCAPA) ("Liberty") announced today that it has entered into a definitive agreement with News Corporation ("News") to exchange Liberty's 16.3% stake in News for News's 38.5% stake in DIRECTV Group, Inc. (NYSE: DTV) ("DIRECTV"), regional sports networks in Denver, Pittsburgh, and Seattle, and cash.
"We are happy to become the largest shareholder in the world's largest satellite television provider. Chase Carey and the DIRECTV team have done a fantastic job, and we look forward to the strategic benefits of them joining the Liberty family," said Liberty President and CEO Greg Maffei who added, "During 2006 we converted many passive investments into strategic operating businesses, but this transaction is the largest and most important. DIRECTV and the regional sports networks represent a critical step in our efforts to transform Liberty Media into a well-positioned, focused operating company."
Azi au aparut ceva comentarii dar nu inteleg daca aveti ceva in engleza
Liberty Media przejmuje DirecTV
Amerykański regulator medialny zatwierdził umowę, dotyczącą zrezygnowania przez News Corp Ruperta Murdocha z kontroli nad największym krajowym nadawcą satelitarnym. Liberty Media Corp magnata medialnego John'a Malone'a, przejęła DirecTV w zamian za swoje 16,3 proc. udziałów w News Corp, 550 mln dol. w gotówce i trzy regionalne sieci sportowe.
- 2008-02-26 14:05:21 / Anita Dąbek
- Ostatnia aktualizacja: 2008-02-26 19:38:59
- źródło: digitalspy
Last edited by luci1tl; 27th February 2008 at 20:49.
From Federal Communications Commission, February 26, 2008
The Federal Communications Commission (FCC) today approved the transfer of control of DIRECTV to Liberty Media subject to conditions. The Commission concluded that, as conditioned, the public interest benefits of the transfer outweighed the potential harms and would be consistent with applicable Commission rules and policies.
As a benefit of the transaction, Liberty Media and News Corp., which is the majority stakeholder of DIRECTV, would sever their ownership interests with each other which will decrease media consolidation and reduce vertical integration therefore benefiting the public.
The Order also imposes certain conditions to ensure that the transaction will serve Commission’s competition and diversity goals. The Order requires that Liberty and DIRECTV abide by program access, program carriage, Regional Sports Network (“RSN”) arbitration, retransmission consent arbitration conditions, modeled on similar conditions imposed in 2003, when the Commission approved the transfer of DIRECTV from Hughes to News Corp. In addition, the Order requires that all of the attributable ownership interests connecting DIRECTV-Puerto Rico and Liberty Cablevision of Puerto Rico, Ltd., which will be under common control as a result of the transaction, be severed within one year, at which point the companies must certify either that they have reduced the relevant interests to a non-attributable level or that they have filed any applications necessary to divest assets.
On balance, the Commission found that the transaction, as conditioned, would serve the public interest.
Action by the Commission February 25, 2008, by Memorandum Opinion and Order (FCC 08-66). Chairman Martin, Commissioners Tate and McDowell with Commissioner Copps concurring and Commissioner Adelstein approving and dissenting in part. Separate statements issued by Commissioners Copps and Adelstein.
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