DirecTV Set To Expand Its Content Presence

Following the US$11bn deal between Liberty Media and DirecTV Group in March 2008, which saw Liberty Media take control of DirecTV via a swap of its 16% stake in News Corporation for News Corp's 40% stake in DirecTV, the two companies have announced that Liberty Entertainment will be merged with DirecTV. The deal is a reorganisation of Liberty Media's portfolio, which includes a 54% interest in satellite-TV giant DirecTV and Liberty Entertainment and in CFW's view it simplifies DirecTV's corporate structure. It also serves to transform Liberty Entertainment's tracking stock into an asset-backed security.

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