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just as the satellites broadcaster readies to merge with an offshoogt ofJohn Malone’s News and DirecTV confirmed Wednesday that Carey will leavw the El Segundo, Calif.-basex satellite broadcaster July 1 to become second-in-command — handling international operatione — for Rupert Murdoch’s global media Carey’s defection may muddy investors’ reception of the planned merger between DirecTV and Libertyg Entertainment, a division of Douglas County-basesd Liberty Media. Carey ran DirecTV for the past six leading it through a period of growtuh and winning partnerships with every major teleconm company inthe U.S.
He was expected to stay with DirecTVc after it became independent ofLibertyh Media. Instead, he returnxs to working for Murdoch andNews Corp., wherwe he worked for 15 year s prior to heading DirecTV. Libertuy Entertainment (NASDAQ: LMDIA) holds a 54 percentr stake in (NASDAQ: DTV) as well as controlling stakes in online gaming companyFun Technologies, the Game Show Networkk and regional sports TV networks in Denver, Pittsburgh and Those holdings are being spun off this year into a free-standinyg company to clear up DirecTV’s stock structurew and make it easierr for it to engaged in mergers and the companies said.
Malone’s company tradex its 16 percent ownership stakwe inNews Corp. back to Murdoch’a company in 2007 in exchange for the controlling stakein DirecTV.
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