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Wall Street was buzzing over reports that media moguls Rupert Murdoch and John Malone had crafted a stock swap deal that would give Malone's Liberty-Media Corp. ownership of DirecTV 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 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.

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Title Annotation:News of the Week
Publication:Los Angeles Business Journal
Date:Dec 11, 2006
Words:119
Previous Article:Drag, but no recession in '07.(Up Front)
Next Article:Pay-back time.(News of the Week)



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