Let’s Swap Some Media Assets
December 22, 2006
The Motley Fool - Pulling off the kind of blockbuster trade that will send ripples through fantasy media leagues everywhere, News Corp. (NYSE: NWS - News) and Liberty (Nasdaq: LCAPA - News) have completed an asset sale. If you thought that Allen Iverson going to Denver earlier this week made for a league-altering swap, that’s chicken feed compared with this deal, which has News Corp. sending over its 38.4% stake in DirecTV (NYSE: DTV - News), $550 million in cash, and three of its FSN regional sports networks in exchange for Liberty’s 16.3% stake in News Corp. itself.
