Liberty Nears News Corp. Deal

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John Malone’s Liberty Media will regain ownership of three regional sports channels owned by News Corp.’s FSN under a broad deal that will also give Liberty control of DirecTV, The Wall Street Journal reported Monday morning.

While the newspaper didn’t name the specific regional networks involved in the deal, Fox Sports Pittsburgh, Fox Sports Northwest and FSN Rocky Mountain appear to be the networks that will change hands, based on the pro sports teams named in the report.
In exchange for Liberty selling its $11 billion stake in News Corp. back to the media giant, Liberty would pick up the majority stake in News Corp.’s DirecTV unit, the second largest U.S. pay TV provider, which counts 15.6 million subscribers.

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