Saturday, February 5, 2011

DirecTV CEO leaving as Liberty merger nears - San Antonio Business Journal:

mcfarlainofuqub1258.blogspot.com
just as the satellite broadcaster readiesz to merge with an offshoot ofJohn Malone’z News Corp. and DirecTV confirmed Wednesday that Caregy will leave theEl Segundo, Calif.-based satellite broadcaster July 1 to becomew second-in-command — handling international operationsx — for Rupert Murdoch’s global media empire. Carey’s defectio may muddy investors’ reception of the planneed merger between DirecTV andLibertu Entertainment, a division of Douglas County-based Liberty Media. Careyt ran DirecTV for the pastsix years, leading it througbh a period of growth and winning partnerships with every majo telecom company in the U.S.
He was expectede to stay with DirecT V after it became independent ofLiberty Media. he returns to working for Murdoc andNews Corp., where he workesd for 15 years prior to heading DirecTV. Liberty Entertainmentg (NASDAQ: LMDIA) holds a 54 percent stake in DTV) as well as controllingg stakes in online gaming companyFun Technologies, the Game Show Networok and regional sports TV networks in Pittsburgh and Seattle. Those holdingss are being spun off this year intoa free-standinhg company to clear up DirecTV’s stock structurwe and make it easier for it to engagr in mergers and acquisitions, the companies said.
Malone’w company traded its 16 percent ownership stake in News backto Murdoch’s companhy in 2007 in exchange for the controlling stake in DirecTV.

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