News Corp. Shareholders OK DirecTV Deal

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More than 99% of News Corp. shareholders approved the company’s deal to swap its stake in DirecTV Group with Liberty Media in exchange for $550 million in cash and Liberty's roughly $11 billion stake in News Corp. at a special shareholders' meeting Tuesday, AP reported.

The transaction was first announced in December.

The deal must still be approved by the Federal Communications Commission, which has already received filings opposing it from EchoStar Communications and the National Cable Television Cooperative.

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