Home Malone.
Wall Street was buzzing over reports that media moguls Rupert Rupert, 1352–1410, German king (1400–1410), elector palatine of the Rhine. He was elected German king after the deposition of Wenceslaus. Seeking the imperial crown, Rupert went to Italy. Murdoch and John Malone had crafted a stock swap A stock swap also known as a share swap or equity swap is a business takeover in which the acquiring company uses its own stock to pay for the acquired company. deal that would give
Malone's Liberty-Media Corp. ownership of DirecTV DirecTV (trademarked as "DIRECTV") is a direct broadcast satellite (DBS) service based in El Segundo, California, USA, that transmits digital satellite television and audio to households in the United States, the Caribbean and Latin America except for Mexico. Group Inc.
Liberty Chairman Malone would swap his 19 percent stake in
Murdoch's News Corp. (valued at $16 billion) for Murdoch's 38
percent stake in the El Segundo-based satellite television provider,
which is valued at $7.4 billion. Malone also will get three regional
sports networks In the United States of America, a Regional Sports Network, or RSN, is a cable television station that presents sports programming to a local market. The most important programming on an RSN consists of live broadcasts of professional and college sporting events, as those games owned by News Corp. and $550 million in cash. Analysts
value the total deal at close to $25 billion. Since Malone is News
Corp.'s second-largest holder, the deal would increase Murdoch and
his family's stake in News Corp. to 36 percent of shares.
COPYRIGHT 2006 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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