FCC Grants Conditional Approval To News Corp.-Liberty DirecTV Swap

As tipped last week, the FCC has approved the dragged out Liberty Media (NSDQ: LINTA) and News Corp (NYSE: NWS). DirecTV (NYSE: DTV) swap agreement, subject to certain conditions. Liberty will get a controlling interest in DirecTV, cash and three regional sports nets in exchange for giving up its stake in News Corp. The conditions compel Liberty to abide by certain access regulations relating to the sports networks and to divest itself of certain Puero Rican aspects. According to last week’s reports, the matter was settled, but waiting for official votes from the two Democratic commissioners. Both Copps and Addesltein ended up supporting the deal, with some reservations. Statement

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