Liberty
confirms share swap talks with News Corp for DirecTV
Indiantelevision.com
Team
(14 October 2006 10:25 pm)
MUMBAI: Liberty Media Corp. said it would probably swap its 19.1-percent stake
in News Corp. for News Corp.’s 38.3 per cent controlling interest in DirecTV.
Liberty
Media chief executive Greg Maffe has been quorted in media reports as saying,
"We are saying in the marketplace that we may exchange our roughly $11bn
(£5.8bn) stake in News Corp for a controlling stake in DirecTV."
News
Corp.’s stake in DirecTV is estimated to be worth about $9 billion. Reportedly,
DirecTV would join Liberty assets such as shopping channel QVC and the Starz group
of subscription TV channels.
