News Corp. Gets FCC OK For DirecTV Sale

Law360, New York (February 27, 2008, 12:00 AM EST) -- The Federal Communications Commission has signed off on a deal that will allow News Corp. to sell its stake in DirecTV to Liberty Media Corp.

In a decision released Tuesday, the FCC wrote that in the stock swap transaction, “the potential public interest harms of the proposed transaction, as conditioned, are outweighed by the potential public interest benefits.”

Under the terms of the deal, News Corp. will transfer its controlling stake in DirecTV, $550 million in cash and three regional sports networks to Liberty Media in...
To view the full article, register now.